The stablecoin market lost USD 7.7 billion in June, its largest monthly decline since the Terra-Luna collapse in May 2022, bringing total capitalization down roughly USD 10 billion from its May peak to about USD 300 billion. Yet adjusted transaction volume reached a record USD 1.79 trillion, rising 63% from May and 125% from a year earlier, suggesting usage for transfers and settlement remained strong even as circulating supply contracted.