There’s a striking stablecoin statistic this week: according to DefiLlama, in the 7 days through November 7, the total stablecoin supply fell by $6.66 billion to $292.31 billion, marking what’s been called the sharpest weekly decline of 2026. $USDT fell by about $3.1 billion to $177 billion, while $USDC fell by about $1.31 billion to $70.6 billion.
A drop in supply means redemptions outnumbered minting, suggesting capital is flowing out of the market. Combined with $1.28 billion in net outflows from spot BTC ETFs this week and the Fear & Greed Index sitting around 28, sentiment is certainly subdued. But the data alone doesn’t show who redeemed or why, so don’t read too much into it.
I’ll keep an eye on whether stablecoin supply stabilizes next week. #稳定币 #On-chain data
For reference only; this is not investment advice.
A drop in supply means redemptions outnumbered minting, suggesting capital is flowing out of the market. Combined with $1.28 billion in net outflows from spot BTC ETFs this week and the Fear & Greed Index sitting around 28, sentiment is certainly subdued. But the data alone doesn’t show who redeemed or why, so don’t read too much into it.
I’ll keep an eye on whether stablecoin supply stabilizes next week. #稳定币 #On-chain data
For reference only; this is not investment advice.