TechFlow news, July 12, according to CoinDesk, the stablecoin market experienced its largest-scale pullback in recent years in June, with total market capitalization decreasing by $7.7 billion that month, marking the largest single-month decline since the Terra-Luna collapse in May 2022. Since the peak in May, the stablecoin market has cumulatively shrunk by approximately $10 billion, with two major stablecoin issuers becoming the main driving factors of this pullback: USDT issued by Tether saw its market cap drop from about $190 billion in May to $184 billion, a decrease of about $6 billion; USDC issued by Circle fell from a high near $80 billion in March 2026 to about $73 billion, shrinking by about $7 billion.
However, compared to the cumulative decline of over 26% in the stablecoin market during the 2022 crypto winter, the magnitude of this adjustment remains relatively moderate. Wall Street institutions remain optimistic about the long-term prospects of stablecoins; Citigroup previously estimated that the global stablecoin market size will reach $1.9 trillion under the baseline scenario by 2030, and could rise to $4 trillion under the optimistic scenario.
