According to on-chain analyst Yujin, the total market capitalization of stablecoins in the crypto market has decreased by approximately $10 billion, now standing at around $300 billion. The total supply of Tether (USDT) has dropped from approximately $189.8 billion to $184.1 billion, with a net outflow of about $5.7 billion. The total supply of USD Coin (USDC) has fallen from approximately $79.6 billion to $73 billion, with a net outflow of about $6.6 billion. Circle’s stock price has declined from around $136 to approximately $64. The total supply of USD1 has increased from approximately $4.1 billion to $4.6 billion, with a net inflow of about $500 million.
Crypto stablecoin market cap shrinks by $10B as funds shift to U.S. stocks
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Summary
The crypto market experienced stablecoin outflows totaling $12.3 billion, with Tether (USDT) declining to $184.1 billion and USD Coin (USDC) falling to $73 billion. Altcoins to monitor include USD1, which attracted $500 million in inflows. Circle’s stock dropped to $64, as investors redirected funds toward U.S. stocks. The stablecoin market cap now stands at $300 billion, down $10 billion from recent levels.
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