---
title: "USDf Adds $198.76M In A Day"
canonical: "https://pharos.watch/digest/2026-10-04/"
datePublished: "2026-10-04T08:05:58.000Z"
description: "USDf posted $198.76M of net issuance in 24 hours, about an eighth of its $1.62B market cap, as the Bank Run Gauge reads 4.1 after six daily readings below -15."
---

# USDf Adds $198.76M In A Day

## Executive Summary

USDf posted $198.76M of net issuance in 24 hours, about an eighth of its $1.62B market cap, as the Bank Run Gauge reads 4.1 after six daily readings below -15.

## Extended

USDf recorded $198.76M of net on-chain issuance in the 24 hours to 08:05 UTC, an intensity reading of 100 against its 30-day baseline and the largest pressure shift in today's mint/burn data. Against a $1.62B market cap, that is roughly an eighth of supply in one window. The feed measures token issuance; it does not show who minted or why. Net flow across every tracked coin on Ethereum was $372.39M.

The Bank Run Gauge reads 4.1, neutral, after readings between -15.8 and -27.6 from September 27 to October 2. USDC remains the largest weekly mover, down $1.23B over seven days to $74.20B, 7% below its April high of $79.75B, though its one-day change was only -$4.39M. Total stablecoin supply still rose $577.66M on the week to $323.29B.

USDA's last stored deviation of 3,098 bps below peg is unchanged on $145.56M of market cap, with no live price available. pmUSD narrowed to 5,399 bps from 5,524, trading at $0.460. DEWS moved BUCK from CALM to WATCH on price confidence. If the Gauge drops to -10 or lower, outflow pressure would overtake USDf's issuance as the lead candidate.