Stablecoin Market Sees Largest Monthly Drop Since Terra Collapse in June, But Long-Term Growth Thesis Remains Intact

According to Odaily, the stablecoin market experienced its largest correction in recent years in June, with total market capitalization decreasing by $7.7 billion, marking the biggest single-month decline since the Terra-Luna collapse in May 2022. Since peaking in May, the stablecoin market has contracted by approximately $10 billion, with the two largest stablecoin issuers being the main drivers of this pullback: Tether's USDT market cap has fallen from around $190 billion in May to $184 billion, a decrease of about $6 billion; Circle's USDC has retreated from its high of nearly $80 billion in March 2026 to approximately $73 billion, a decline of about $7 billion.

However, compared to the cumulative decline of over 26% in the stablecoin market during the 2022 crypto winter, the scale of this adjustment is still relatively moderate. Wall Street institutions remain optimistic about the long-term prospects of stablecoins. Citigroup previously predicted that the global stablecoin market size could reach $1.9 trillion by 2030 under a baseline scenario, and could rise to $4 trillion under an optimistic scenario. (CoinDesk)