Stablecoin Market Cap Falls $7.7 Billion in June, Largest Monthly Dollar Decline Since 2022

The stablecoin market has shed around $10 billion in market capitalization since reaching a peak in May, with June accounting for a $7.7 billion decline, according to CoinDesk.

The monthly drop was the largest dollar-value contraction in the sector since May 2022, as declines in major stablecoins weighed on the overall market. Tether’s USDT led the retreat, with its market capitalization falling from roughly $190 billion to about $184 billion, while Circle’s USDC market cap declined to approximately $73 billion.

Despite the decline in headline figures, the overall stablecoin market experienced a relatively modest pullback, shrinking by around 3% from its recent peak.

Source: CoinDesk