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Stablecoin Market Cap Shrinks $17B Amid Record Volumes

Guavy AI Editorial Team
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USDT USDC
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The stablecoin market cap has declined by $17 billion since its peak in May to $303.8 billion as of August 2, a 5.3% drawdown.

This decline is due to redemptions outpacing issuance, with flagship issuers Tether and Circle shrinking their circulation.

Tether's USDT has lost around $6 billion from its peak, while Circle's USDC has given back around $7 billion from its March high.

The rest of the drawdown is spread across smaller stablecoin issuers.

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