Stablecoin Certification Speeds Up, but COINUSDT Fell 4.67% This Week
The U.S. Treasury will let states submit stablecoin certifications earlier, yet COINUSDT closed the week down 4.67%, with 24 of 34 weekly samples stronger.
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A warmer policy tone, and a price that answered the other way
The most direct read on the U.S. Treasury allowing states to submit stablecoin certifications earlier is COINUSDT. As of 2026-10-02, this Binance US-stock USDT-margined perpetual opened the week at 196 USDT and closed at 186.85 USDT, a weekly decline of 4.67%. The policy story says the compliance path for stablecoins moved a step forward; the price says something else. Of 34 weekly samples, 24 were stronger than this one. Among the names tied to stablecoins and crypto payments, HOODUSDT fell 6.73%, PYPLUSDT fell 3.6%, and SOFIUSDT fell 5.05% this week. None of them traded like a policy tailwind. That is the point worth keeping: a headline and a price can both be true while speaking on different time scales.
How each day of the week actually moved
The COINUSDT daily candles are below, with dates, opens, closes and changes copied verbatim from the Binance official interface, with no conversion.
| Date | open (USDT) | close (USDT) | Change |
|---|---|---|---|
| 2026-09-24 | 198.03 | 198.61 | 0.29% |
| 2026-09-25 | 198.62 | 195.26 | -1.69% |
| 2026-09-26 | 195.26 | 197.11 | 0.95% |
| 2026-09-27 | 197.09 | 195.99 | -0.56% |
| 2026-09-28 | 196 | 192.8 | -1.63% |
| 2026-09-29 | 192.81 | 190.46 | -1.22% |
| 2026-09-30 | 190.47 | 186.7 | -1.98% |
| 2026-10-01 | 186.69 | 186.85 | 0.09% |
Only three of the eight sessions closed green, gaining 0.29%, 0.95% and 0.09%, while five closed lower. The session that did the damage was 09-30, opening at 190.47 and closing at 186.7, down 1.98%, the heaviest red candle of the week. The day before was no relief either: 09-29 opened at 192.81 and closed at 190.46, down 1.22%, and the two sessions together dragged price from above 190 down toward 186. 09-28 also deserves a separate look, opening at 196 and closing at 192.8, down 1.63%, the first break below 195 this week. On the other side, 09-26 opened at 195.26 and closed at 197.11, up 0.95%, the only meaningful bounce, and it did not carry: 09-27 closed back at 195.99. The final session, 10-01, closed at 186.85, up 0.09%, essentially holding the 09-30 close. The structure is clear: one bounce, then a steady slide, with the center of gravity moving from 196 down to 186.85.
Where this week sits in a 34-week sample
COINUSDT listed on 2026-02-09 and now has 34 weekly samples, with 24 stronger than this week. A decline of 4.67% sits in the weaker part of the sample, though not at the very bottom. A few of the stronger weeks make the gap obvious.
| Week start | open (USDT) | close (USDT) | Change |
|---|---|---|---|
| 2026-04-13 | 165.71 | 201.21 | 21.42% |
| 2026-06-29 | 149.07 | 174.48 | 17.05% |
| 2026-08-17 | 149.28 | 188.36 | 26.18% |
| 2026-09-14 | 171.97 | 195.42 | 13.64% |
| 2026-03-02 | 175.6 | 192.51 | 9.63% |
| 2026-03-30 | 160.2 | 174.7 | 9.05% |
The week of 2026-08-17 opened at 149.28 and closed at 188.36, up 26.18%, the strongest in the sample. 2026-04-13 ran from 165.71 to 201.21, up 21.42%; 2026-06-29 from 149.07 to 174.48, up 17.05%; 2026-09-14 from 171.97 to 195.42, up 13.64%. Those weeks shared a pattern of a low open and a high close, lifting price a step within one week. This week went the other way: 196 open, 186.85 close. Some weeks were weaker still, such as 2026-04-27 at -4.14%, a smaller decline than this week, which puts this week in the middle-to-weak range rather than an extreme. Set beside the 13.64% week of 2026-09-14, price moved from 195.42 down to 186.85 in a short span, giving back part of that earlier gain.
What the trending posts on Square are saying
Trending posts on Square argue that the U.S. Treasury letting states submit stablecoin certifications earlier is a mildly positive policy signal for stablecoins and crypto-payment names, on the grounds that a clearer compliance path makes payment and custody businesses around stablecoins easier to push forward (relayed, not the view of this site). Some posts put COINUSDT and HOODUSDT directly on the beneficiary list, citing their close ties to crypto trading and crypto payments, and expect policy easing to show up in expectations first. Others are more cautious, arguing that policy takes time to reach revenue and that short-term price need not follow the headline, pointing to this week's pullback as evidence of the gap between expectations and price. These are Square discussions, not established facts, and the price has not confirmed them.
Three things that are easy to miss
First, gaps deserve extra care on US-stock USDT-margined perpetuals. In the COINUSDT daily series, 09-27 opened at 197.09 while 09-26 closed at 197.11, which looks tight, but these contracts track US equities and keep trading while the underlying market is closed. When news hits, the open can sit far from the prior close. A gap does not close just because you are long, and a stop placed beyond it may fill far from where you expected.
Second, high leverage turns a week's move into an account-level event. COINUSDT went from 196 to 186.85 this week, an ordinary pullback in spot terms but something else entirely in a leveraged position. 09-30 fell 1.98% in a day and 09-28 fell 1.63%; stacked together, a leveraged account may be forced out before price reaches the weekly low. Leverage magnifies volatility, not judgment.
Third, funding rates and holding costs are another hidden line. Perpetuals have no expiry, so longs and shorts pay each other through funding, and in a one-way decline the wrong side keeps paying. That cost never appears on the chart but does eat into the balance. The line that the best week is only known in hindsight holds here too: the 26.18% week of 2026-08-17 was confirmed only after the close, and nobody inside it knew it would be the strongest in the sample. This week's pullback is likewise a finished result, not a direction that must continue.
Getting the cost side straight
The Binance contract default maker fee is 0.02% and the default taker fee is 0.05%, the standard tier before any rebate. With a 20% rebate ratio applied, the effective maker fee is 0.016% and the effective taker fee is 0.04%. Read together, taking is more than twice the cost of making, and frequent taker entries and exits over a week add up well above maker orders.
Source: https://fapi.binance.com/fapi/v1/exchangeInfo
Data as of 2026-10-02; source: Binance official interface. Not investment advice.
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Binance is not available in your region. What follows is not a centralized exchange โ it is a different kind of product that you can use:
๐ Binance Web3
A self-custody wallet inside the Binance app; swaps route through on-chain DEX aggregation, not an exchange account
Bind via our link and wallet swap fees drop 30%. On-chain gas and slippage are not covered by the discount.
You must already be a verified Binance user to create a Binance Wallet (official FAQ Q13); wallet referrals and exchange referrals are two separate systems. Zero-fee pairs such as stablecoin swaps generate no rebatable fee.