Stablecoin Market: Record Volumes Despite $10 Billion Contraction

The stablecoin market has recorded its first contraction in four years, with a decrease of $10 billion since May 2026. In June 2026, the loss reached $7.7 billion. However, transaction volumes hit a record high of $1.79 trillion, indicating an intensification of the actual use of stablecoins despite the decline in market capitalization. Over a thirty-day period, an additional $5 billion has left the circulating supply without affecting transactions. The velocity, measuring the ratio between the exchanged volume and the circulating supply, shows that stablecoins are increasingly being used as a means of settlement. This phenomenon is different from the collapse of Terra in 2022, where confidence had plummeted. Currently, the decline in supply coupled with increased usage signals a maturity of the market. This change is crucial as regulatory debates intensify in Europe and the United States, making velocity a key indicator for assessing the health of the stablecoin sector.