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Stablecoin supply shrinks $14.2 billion in 30 days, the biggest drop since the 2022 bear market
🔴Bearish for $BTCGlassnode reads the record 30-day stablecoin contraction as cash leaving crypto, leaving less buying power for bitcoin and the wider market.News sentiment, not financial advice. It reflects the likely impact of this news, not a price prediction.
Summary
Stablecoin supply fell by $14.2 billion over a rolling 30-day period, the largest contraction since June 2022, according to Glassnode data cited by Cointelegraph and The Block.
That is bigger than the $9.5 billion drop seen when bitcoin fell below $58,000 on July 1, though still well short of the nearly $30 billion decline in June 2022, Cointelegraph reported.
The Block said USDT and USDC supply alone fell nearly $11 billion over the past month, while gold-backed tokens held steady.
Glassnode said a shrinking supply means holders are redeeming stablecoins for dollars and taking cash out of the market, 'which leaves less fuel for a rally.'
Key facts
- Glassnode: 'Should the 30-day change turn back to growth, it would be the first sign that new money is coming in.'
- Cointelegraph: USDT continues to trade slightly below its $1 peg per TradingView, which Glassnode attributes to the same pressure from investors rotating out.
- Cointelegraph: CryptoQuant said its measure of bitcoin demand fell by 284,000 BTC over 30 days, the sharpest downturn since March 2025.
- The Block: USDT and USDC supply fell nearly $11 billion over the past month.