CryptoUpdated Yesterday

Stablecoin supply shrank by $14.2 billion.

CoinDesk’s headline pairs a payments boom with stablecoin growth that has stalled. Newer supply figures make the contrast sharper: The Block says total stablecoin supply fell $14.2 billion in 30 days, its largest contraction since the 2022 bear market. Decrypt calls it the fastest contraction since June 2022 and reports weak ETF demand as context, not a proven cause. Nearly $11 billion of the drop came from the combined supply of USDT and USDC, according to The Block, while gold-backed tokens held steady. The contraction isn’t spread evenly across the categories mentioned.

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