Stablecoins have shed $12.413 billion in market value over 62 days, starting from May 17, 2026, marking one of the largest declines since 2022. The latest weekly outflow reached $1.555 billion, signaling ongoing adjustments in the sector.
Tether's USDT remains the leader with a market capitalization of $184.055 billion, barely changing with a 0.06% dip last week. Circle's USDC follows at $73.376 billion, slipping 0.04%. Meanwhile, Sky's USDS experienced the steepest decline among the top ten stablecoins, dropping 12.3% to $6.66 billion.
Other notable movements include Global Dollar's USDG, which climbed 9.08% to $3.164 billion, standing out as the best weekly performer. Paypal's PYUSD also rose 1.60% to $2.877 billion. On the downside, Circle's USYC and Blackrock’s BUIDL fell 3.64% and 8.68%, respectively, with BUIDL at $2.633 billion.
This contraction occurred amid a period when bitcoin and major altcoins remained relatively stable, suggesting the decrease in stablecoins does not reflect a broader market selloff. Instead, it may indicate a maturing stablecoin market with changing dynamics among issuers.
