💧 Stablecoin supply shrinks $14.2B, the biggest drop since the 2022 bear market
The supply of major stablecoins fell by $14.2 billion over the past 30 days, according to a Glassnode report, the largest decline since the 2022 crypto bear market. Total stablecoin supply now sits just below $280 billion, a level last seen in September 2025.
CryptoQuant separately found Tether's USDT market cap dropped $6.6 billion in the 60 days through Nov. 7, more than double the $3.2 billion fall after FTX collapsed in late 2022. "A shrinking supply means holders are redeeming stablecoins for dollars and taking that cash out of the market, which leaves less fuel for a rally," Glassnode wrote.
⭐ Stablecoins are crypto's dry powder: Glassnode calls a return to supply growth the "first sign that new money is coming in," so this is a key gauge to watch for any rebound.
#Stablecoins #USDT #USDC #Bitcoin #CryptoMarket
The supply of major stablecoins fell by $14.2 billion over the past 30 days, according to a Glassnode report, the largest decline since the 2022 crypto bear market. Total stablecoin supply now sits just below $280 billion, a level last seen in September 2025.
CryptoQuant separately found Tether's USDT market cap dropped $6.6 billion in the 60 days through Nov. 7, more than double the $3.2 billion fall after FTX collapsed in late 2022. "A shrinking supply means holders are redeeming stablecoins for dollars and taking that cash out of the market, which leaves less fuel for a rally," Glassnode wrote.
⭐ Stablecoins are crypto's dry powder: Glassnode calls a return to supply growth the "first sign that new money is coming in," so this is a key gauge to watch for any rebound.
#Stablecoins #USDT #USDC #Bitcoin #CryptoMarket
