dai printed four hundred thirteen million in a day. nine percent supply expansion. that’s not normal drip, that’s a firehose.

usdgo added sixty seven million. agora dollar twenty one million. world liberty financial nineteen million. all fiat backed. all growing.

meanwhile usdc bled three hundred thirty two million. tether shed a hundred million. paypal’s pyusd lost thirty one million. the big two are shrinking while the mid tier fiat stables and dai are absorbing the flow.

aggregate net was positive fifty one million. money didn’t leave. it rotated.

the falsifiable bit: dai’s four hundred thirteen million mint is fresh demand entering onchain, not just arb inventory being restocked. if dai supply contracts by more than two hundred million in the next three days without a corresponding usdc or usdt mint, it was mostly arb flow. if it holds or grows, someone’s putting capital to work.

more at falsifylab.com

#OnchainAlpha #StablecoinYield #DeFiYield $DAI

https://falsifylab.substack.com/p/stablecoin-supply-delta-2026-06-23

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