Stablecoin Market Loses $7.7 Billion in June as USDT and USDC Lead Biggest Drop Since 2022
Updated
Updated · CoinDesk · Jul 12
Stablecoin Market Loses $7.7 Billion in June as USDT and USDC Lead Biggest Drop Since 2022
3 articles · Updated · CoinDesk · Jul 12
Summary
$7.7 billion evaporated from stablecoin market value in June, the sharpest monthly dollar decline since May 2022, extending the pullback from May's peak to roughly $10 billion.
A 3% contraction points to softer onchain liquidity as crypto prices hover near 2026 lows, with stablecoin supply still far from the 26% collapse seen during the 2022 bear market.
Tether and Circle drove most of the retreat: USDT fell about $6 billion from May to roughly $184 billion, while USDC slid about $7 billion from its March peak to around $73 billion.
Smaller regulated rivals kept gaining share despite the overall decline, with Paxos-backed USDG topping $3.2 billion and Anchorage-backed USDGO nearly doubling to $900 million.
Stablecoin supply has stalled near $300 billion since October, removing a key source of crypto trading liquidity even as banks still project the market could reach $1.9 trillion to $4 trillion by 2030.