Stablecoin Market Cap Falls by About $10 Billion to Around $300 Billion, Analyst Says

The total market capitalization of stablecoins has fallen by about $10 billion to roughly $300 billion amid a continued crypto market pullback. According to ChainCatcher, on-chain analyst Yu Jin said the decline reflects net outflows across major stablecoins over the past quarter. Yu Jin reported that USDT supply decreased to $184.1 billion from $189.8 billion, an outflow of $5.7 billion. USDC supply fell to $73.0 billion from $79.6 billion, an outflow of $6.6 billion, the largest among stablecoins cited.