Stablecoins lose US$10B since May
- The stablecoin market has fallen by about US$10 billion since May as Tether (CRYPTO:USDT) and USD Coin (CRYPTO:USDC) supplies declined.
- The drop reduced crypto liquidity, but transaction volumes stayed near record highs.
- Tokenised real-world assets kept growing even as stablecoin supply slowed.
The stablecoin market has shrunk by about US$10 billion since May as Tether (CRYPTO:USDT) and USD Coin (CRYPTO:USDC) recorded large redemptions.
Current data shows the market at about US$312.23 billion, with USDT holding US$184.15 billion and USDC holding US$73.41 billion.
“A relatively small pullback in what we believe is a long-term growth market,” said Wincent senior director Paul Howard.
USDT has fallen by about US$6 billion since May, while USDC has lost nearly US$7 billion since its March peak, although smaller issuers continued to grow.
The decline came as US spot Bitcoin (CRYPTO:BTC) exchange-traded funds recorded more than US$4 billion in outflows during June, while stablecoin transaction volumes reached a record US$1.78 trillion.
Tokenised real-world assets moved higher, passing US$30 billion in on-chain value, while tokenised equity trading rose 145% to US$3.86 billion in June.
The latest figures suggest market growth has slowed rather than collapsed, as stablecoins remain near their US dollar pegs and blockchain activity stays strong.
At the time of reporting, Bitcoin price was $63,770.01.
