> For the complete documentation index, see [llms.txt](https://docs.kaiko.com/llms.txt). Markdown versions of documentation pages are available by appending `.md` to page URLs; this page is available as [Markdown](https://docs.kaiko.com/rest-api/monitoring-solutions/kaiko-market-explorer/stablecoins.md).

# Stablecoins

## What is this endpoint for?

This endpoint receives information on the trades involving a particular stablecoin. Information includes volumes, trade counts, liquidity, supply and lending rates.\
\
Trade and liquidity data are aggregated across all instruments that include the specified token as a base or quote asset.

### Endpoint

{% code overflow="wrap" %}

```http
https://us.market-api.kaiko.io/v2/data/analytics.v2/stablecoin_metrics
```

{% endcode %}

### Parameters

<table><thead><tr><th>Parameter</th><th width="104">Required</th><th width="318">Description</th><th>Example</th></tr></thead><tbody><tr><td><code>asset</code></td><td>Yes</td><td>The desired stablecoin asset <code>code</code>.<br><br>See <a data-mention href="/pages/5iH1qlIc7aNEOOci4yMw">/pages/5iH1qlIc7aNEOOci4yMw</a></td><td><code>usdc</code></td></tr><tr><td><code>start_time</code></td><td>No</td><td>Starting time in ISO 8601 (inclusive).</td><td><code>2023-01-25T00:00:00.000Z</code></td></tr><tr><td><code>end_time</code></td><td>No</td><td>Ending time in ISO 8601 (exclusive).</td><td><code>2023-01-26T00:00:00.000Z</code></td></tr><tr><td><code>page_size</code></td><td>No</td><td><p>See <a data-mention href="/pages/mP3amLsYqKTsrRBoblxX">/pages/mP3amLsYqKTsrRBoblxX</a><br><br>Minimum: <code>1</code><br>Maximum: <code>30</code></p><p>Default: <code>10</code></p></td><td><code>30</code></td></tr></tbody></table>

### Fields

<table><thead><tr><th width="137">Field</th><th width="115">Category</th><th width="228">Description</th><th>Example</th></tr></thead><tbody><tr><td><code>timestamp</code></td><td>Trading activity</td><td>Timestamp at which the interval begins.</td><td><code>2026-06-18T00:00:00Z</code></td></tr><tr><td><code>interval</code></td><td>Informations</td><td>The aggregation interval.</td><td><code>1d</code></td></tr><tr><td><code>asset</code></td><td>Informations</td><td>The specified asset.</td><td><code>usdc</code></td></tr><tr><td><code>price</code></td><td>Trading activity</td><td>Average price in usd. null when no trades are reported.</td><td><code>0.9997000899730081</code></td></tr><tr><td><code>total_volume_usd</code></td><td>Trading activity</td><td>Total volume in usd traded in the interval. <br><br><code>0</code> when no trades are reported.</td><td><code>796218091.3924453</code></td></tr><tr><td><code>total_trade_count</code></td><td>Trading activity</td><td>The total amount of trades reported during the interval.<br><br><code>0</code> when no trades are reported.</td><td><code>2000097</code></td></tr><tr><td><code>cex_volume_usd</code></td><td>Trading activity</td><td>Total off-chain volume in usd traded in the interval. <br><br><code>0</code> when no trades are reported.</td><td><code>694548754.6376011</code></td></tr><tr><td><code>cex_trade_count</code></td><td>Trading activity</td><td>The total amount of trades reported off-chain during the interval.<br><br><code>0</code> when no trades are reported.</td><td><code>1910473</code></td></tr><tr><td><code>dex_volume_usd</code></td><td>Trading activity</td><td>Total on-chain volume in usd traded in the interval. 0 when no trades are reported.</td><td><code>101669336.75484413</code></td></tr><tr><td><code>dex_trade_count</code></td><td>Trading activity</td><td>The total amount of trades reported on-chain during the interval. <br><br><code>0</code> when no trades are reported.</td><td><code>89624</code></td></tr><tr><td><code>supply_circulating</code></td><td>Supply</td><td>Blockchain total supply.</td><td><code>70051396209.43329</code></td></tr><tr><td><code>market_cap</code></td><td>Supply</td><td>The market cap of the stablecoin across all chains.</td><td><code>70030387093.3053</code></td></tr><tr><td><code>supply_change</code></td><td>Supply</td><td>The change in supply since the last interval.</td><td><code>-317149147.036026</code></td></tr><tr><td><code>avg_weighted_defi_lending_yield</code></td><td>DeFi lending</td><td>Average of all lending yields across DeFi lending protocols, weighted by deposited liquidity.</td><td><code>0.030345222539145098</code></td></tr><tr><td><code>avg_weighted_defi_borrowing_rate</code></td><td>DeFi lending</td><td>Average of all borrowing rate across DeFi lending protocols, weighted by deposited liquidity.</td><td><code>0.03869062376513863</code></td></tr><tr><td><code>total_defi_deposited</code></td><td>DeFi lending</td><td>Total deposited liquidity across DeFi lending protocols.</td><td><code>2321449893.228165</code></td></tr><tr><td><code>total_defi_borrowed</code></td><td>DeFi lending</td><td>Total borrowed liquidity across DeFi lending protocols.</td><td><code>2030740561.2581594</code></td></tr><tr><td><code>aggregated_buy_market_depth_asset</code></td><td>Liquidity information</td><td>Dictionary from 0.1% to 10% market depth.</td><td>See example response below.</td></tr><tr><td><code>aggregated_buy_market_depth_usd</code></td><td>Liquidity information</td><td>Dictionary from 0.1% to 10% market depth.</td><td>See example response below.</td></tr><tr><td><code>aggregated_sell_market_depth_asset</code></td><td>Liquidity information</td><td>Dictionary from 0.1% to 10% market depth.</td><td>See example response below.</td></tr><tr><td><code>aggregated_sell_market_depth_usd</code></td><td>Liquidity information</td><td>Dictionary from 0.1% to 10% market depth.</td><td>See example response below.</td></tr></tbody></table>

### Request examples

{% tabs %}
{% tab title="cURL" %}
{% code overflow="wrap" %}

```url
curl --compressed -H 'Accept: application/json' -H 'X-Api-Key: <client-api-key>' \
'https://us.market-api.kaiko.io/v2/data/analytics.v2/stablecoin_metrics?asset=usdc&sort=desc'
```

{% endcode %}
{% endtab %}

{% tab title="Python" %}
{% code overflow="wrap" %}

```python
import http.client
import json

# Enter your Kaiko API Key
api_key = "KAIKO_API_KEY"
api_host = "us.market-api.kaiko.io"
api_base_endpoint = "/v2/data/analytics.v2/stablecoin_metrics"
# Start of mandatory parameter configuration
mandatory_params = {
    "asset": "usdc",
}
# End of mandatory parameter configuration
# Start of optional parameter configuration
optional_params = {
    #"start_time": "2024-08-27T13:13:53.441Z",
    #"end_time" : "2024-09-27T13:27:53.441Z",
    #"interval" : "1d",
    "sort":"desc",
}
# End of optional parameter configuration
conn = http.client.HTTPSConnection(api_host)
headers = {
    "X-Api-Key": api_key,
    "Accept": "application/json"
}

all_params = {**mandatory_params, **optional_params}

url_params = []
for param, value in all_params.items():
    url_params.append(f"{param}={value}")
url_params = '&'.join(url_params)

endpoint_with_params = f"{api_base_endpoint}?{url_params}"

# Pagination for next pages
all_data = []
next_url = endpoint_with_params
while next_url:
    conn.request("GET", next_url, headers=headers)
    response = conn.getresponse()
    data = json.loads(response.read().decode("utf-8"))
    all_data.extend(data.get("data", []))
    print(f"Fetched {len(data.get('data', []))} datapoints. Total: {len(all_data)}")
    next_url = data.get("next_url", "").replace("https://us.market-api.kaiko.io", "")
    if not next_url:
        break
conn.close()
print(f" datapoints fetched: {(all_data)}")
```

{% endcode %}
{% endtab %}
{% endtabs %}

### Response example

{% code overflow="wrap" %}

```json
{
    "result": "success",
    "time": "2026-06-18T08:06:26Z",
    "timestamp": 1781769986999,
    "query":
    {
        "asset": "usdc",
        "end_time": "0001-01-01T00:00:00Z",
        "interval": "1d",
        "page_size": "10",
        "request_time": "2026-06-18T08:06:26.05808401Z",
        "sort": "desc",
        "start_time": "0001-01-01T00:00:00Z"
    },
    "data":
    [
        {
            "timestamp": "2026-06-18T00:00:00Z",
            "interval": "1d",
            "asset": "usdc",
            "price": 0.9997000899730081,
            "total_volume_usd": 796218091.3924453,
            "total_trade_count": 2000097,
            "cex_volume_usd": 694548754.6376011,
            "cex_trade_count": 1910473,
            "dex_volume_usd": 101669336.75484413,
            "dex_trade_count": 89624,
            "supply_circulating": 70051396209.43329,
            "market_cap": 70030387093.3053,
            "supply_change": -317149147.036026,
            "avg_weighted_defi_lending_yield": 0.030345222539145098,
            "avg_weighted_defi_borrowing_rate": 0.03869062376513863,
            "total_defi_deposited": 2321449893.228165,
            "total_defi_borrowed": 2030740561.2581594,
            "aggregated_buy_market_depth_asset": {
              "bid_volume_0_1": 410009275.917108,
              "bid_volume_0_2": 446428495.09170324,
              "bid_volume_0_5": 470849445.02862155,
              "bid_volume_1": 510576781.129591,
              "bid_volume_2": 549239689.7563232,
              "bid_volume_5": 549239689.7563232,
              "bid_volume_10": 629913837.648892
            },
            "aggregated_buy_market_depth_usd": {
              "bid_volume_0_1": 409964211.9019009,
              "bid_volume_0_2": 446379428.24938184,
              "bid_volume_0_5": 470797694.08590573,
              "bid_volume_1": 510520663.765471,
              "bid_volume_2": 549179322.9617518,
              "bid_volume_5": 599292340.4341673,
              "bid_volume_10": 629844603.9792498
            },
            "aggregated_sell_market_depth_asset": {
              "ask_volume_0_1": 311924899.9123604,
              "ask_volume_0_2": 327273471.225558,
              "ask_volume_0_5": 354299107.9406383,
              "ask_volume_1": 386901697.77497196,
              "ask_volume_2": 407012117.6172724,
              "ask_volume_5": 447660372.5945285,
              "ask_volume_10": 470660113.3308416
            },
            "aggregated_sell_market_depth_usd": {
              "ask_volume_0_1": 311890616.3259667,
              "ask_volume_0_2": 327237500.6815961,
              "ask_volume_0_5": 354260167.01582044,
              "ask_volume_1": 386859173.5077997,
              "ask_volume_2": 406967383.0189715,
              "ask_volume_5": 447611170.35686433,
              "ask_volume_10": 470608383.197524
            }
        },
        /* ALL RESULTS HERE */
    ],
    "continuation_token": "xxx",
    "next_url": "https://us.market-api.kaiko.io/v2/data/analytics.v2/stablecoin_metrics?continuation_token=xxx",
    "links":
    {
        "next": "/v2/data/analytics.v2/stablecoin_metrics?asset=usdc&end_time=2026-06-09T00%3A00%3A00Z&sort=desc"
    },
    "access":
    {
        "access_range":
        {
            "start_timestamp": 1073001600000,
            "end_timestamp": 1861830000000
        },
        "data_range":
        {
            "start_timestamp": "None",
            "end_timestamp": 1861830000000
        }
    }
}
```

{% endcode %}


---

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## Querying This Documentation
If you need additional information that is not directly available in this page, you can query the documentation dynamically by asking a question.

Perform an HTTP GET request on the current page URL with the `ask` query parameter, and the optional `goal` query parameter:

```
GET https://docs.kaiko.com/rest-api/monitoring-solutions/kaiko-market-explorer/stablecoins.md?ask=<question>&goal=<endgoal>
```

`ask` is the immediate question: it should be specific, self-contained, and written in natural language.
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