USD Coin Circulation Plunges $1.5B Amid Rising Stablecoin Use

Circle's USD Coin (USDC) stablecoin has seen a significant reduction in circulation over the past 30 days, with its circulating supply dropping from $73.3 billion at the end of June to approximately $71.8 billion as of August 6.

This represents a decline of around $1.5 billion in just five weeks, with about $1 billion of that evaporating in a single seven-day stretch during late July and early August.

Despite this contraction, USDC's circulating supply is still up 19% year-over-year compared to Q2 2025 levels, indicating a 2% reduction.

The stablecoin processed $14.8 trillion in on-chain transaction volume during Q2 2026, a 151% increase from the same quarter last year.