Stablecoin Recap Jun 29–Jul 6, 2026: Stablecoin Market Capitalization Declines by $2.3 Billion

Total stablecoin market capitalization decreased by $2.3 billion, a 0.75% reduction.

USDG, also known as Global Dollar, led inflows with an increase of $0.16 billion. PYUSD, PayPal USD, followed with $0.107 billion, and USDD added $0.094 billion. During a week when Aave introduced V3 lending and the GHO stablecoin to Monad, USDT experienced the largest outflow, losing $1.848 billion. USDC also saw an outflow of $0.68 billion. USDS, Sperax USD, decreased by $0.244 billion. In the same period, Circle's CEO discussed USDC's network advantage as OUSD emerged.

USDT's market dominance ended at 60.7%, a decline of 0.15 percentage points. USDC's dominance decreased slightly to 24.0%, down by 0.04 percentage points. USD1 depegged, reaching a low of $1.1, 10% off its peg. Regulatory actions included Taiwan's legislature passing new regulations for digital currencies, and OFAC sanctioning 134 ISIS-K wallet addresses, leading Tether to freeze associated funds.

Crédit Agricole, a French banking institution, launched the EURXT euro stablecoin. Tradeweb executed a real-time tokenized US Treasury transaction on the Canton Network. Additionally, a report indicated that India's central bank revived efforts to isolate banks from digital currencies. The yield-bearing stablecoin sector saw a slowdown, ending a three-year growth period for native digital products.

No directly relevant macroeconomic developments were recorded this week.