Has tracked stablecoin supply grown in 2026?

with latest as (
  select date '2026-06-25' as as_of
), usd_universe as (
  select distinct symbol as token_symbol
  from stablecoins_multichain.tokens
  where currency = 'USD'
), by_asset_day as (
  select
    b.day as date,
    b.token_symbol as asset,
    sum(b.balance_usd) as supply_usd
  from stablecoins_multichain.balances b
  join latest l on b.day >= date_add('day', -179, l.as_of) and b.day <= l.as_of
  join usd_universe u on b.token_symbol = u.token_symbol
  where b.balance > 0
  group by 1, 2
), shares as (
  select
    date,
    asset,
    supply_usd,
    supply_usd / nullif(sum(supply_usd) over (partition by date), 0) as share_pct
  from by_asset_day
), ranked as (
  select
    *,
    row_number() over (partition by date order by supply_usd desc) as rank
  from shares
)
select
  date,
  sum(supply_usd) as total_tracked_balances_usd,
  count(*) as denominator_asset_count,
  max(case when rank = 1 then asset end) as top_asset,
  max(case when rank = 1 then share_pct * 100 end) as top1_share_percent,
  sum(case when rank <= 3 then share_pct * 100 else 0 end) as top3_share_percent,
  sum(power(share_pct * 100, 2)) as hhi_0_10000
from ranked
group by 1
order by 1