---
title: "PYUSD Flow Outruns Its Week"
canonical: "https://pharos.watch/digest/2026-09-26/"
datePublished: "2026-09-26T08:05:54.000Z"
description: "PYUSD took in $51.09M net over 24 hours at pressure intensity 100 against its 30-day baseline, after adding $1.37M across the prior seven days. The Bank Run Gau"
---

# PYUSD Flow Outruns Its Week

## Executive Summary

PYUSD took in $51.09M net over 24 hours at pressure intensity 100 against its 30-day baseline, after adding $1.37M across the prior seven days. The Bank Run Gauge held at 8.6, neutral.

## Extended

PYUSD took in $51.09M of net issuance over the 24 hours to 08:05 UTC, a pressure reading of 100 against its 30-day baseline, and the supply pipeline agrees: +$57.11M in one day against +$1.37M across the prior seven. The Bank Run Gauge printed 8.6 and flight-to-quality stayed inactive, which places the move on the creation side rather than the redemption side.

USDC added $1.14B over seven days to $75.57B, the largest weekly mover on the tape and still 5% under its April high of $79.75B. PYUSD put on roughly a twentieth of that in a single session, which is the less ordinary of the two facts. USDT decelerated to +$31.99M on the day against +$631.16M for the week, and Ethereum absorbed +$363.97M net across all issuers.

Nineteen depegs remain active and none resolved in the last 24 hours. USDA's largest listing holds 3,098 bps below peg on day 269 with no material change, while a separate USDA market widened to 1,214 bps at $0.878. pmUSD narrowed to 5,349 bps from 5,571 at $0.465, and apxUSD trades $0.985, 146 bps off, unresolved since the STRC drawdown in early June.

**Stress bands** DEWS held 7 ALERT+ names against 5 band changes, with MOVEUSD the elevated case at score 37 on $114.82M of cap, driven by liquidity erosion at 85; its DEX composite fell from 22 to 8 on a snapshot the pipeline flags unverified. PSI eased to 93.9 from 94, a 90-day BEDROCK streak intact. A $75M one-day PYUSD supply move next session turns this from drift into rotation.