Total stablecoin supply shrank by $14.2 billion, its largest contraction since the 2022 bear market.
According to The Block, the combined supply of USDT and USDC fell by nearly $11 billion over the past month, accounting for most of the contraction; gold-backed token supply did not decline over the same period.
· The contraction was concentrated in USDT and USDC, while the supply of gold-backed tokens remained unchanged.
· By The Block’s measure, this was the largest contraction in stablecoin supply since the 2022 bear market.
Are you more concerned about the scale of the USDT contraction or the USDC contraction?
According to The Block, the combined supply of USDT and USDC fell by nearly $11 billion over the past month, accounting for most of the contraction; gold-backed token supply did not decline over the same period.
· The contraction was concentrated in USDT and USDC, while the supply of gold-backed tokens remained unchanged.
· By The Block’s measure, this was the largest contraction in stablecoin supply since the 2022 bear market.
Are you more concerned about the scale of the USDT contraction or the USDC contraction?
