• The stablecoin market has fallen by about US$10 billion since May as Tether (CRYPTO:USDT) and USD Coin (CRYPTO:USDC) supplies declined.
• The drop reduced crypto liquidity, but transaction volumes stayed near record highs.
• Tokenised real-world assets kept growing even as stablecoin supply slowed.

The stablecoin market has shrunk by about US$10 billion since May as Tether (CRYPTO:USDT) and USD Coin (CRYPTO:USDC) recorded large redemptions.

Current data shows the market at about US$312.23 billion, with USDT holding US$184.15 billion and USDC holding US$73.41 billion.

“A relatively small pullback in what we believe is a long-term growth market,” said Wincent senior director Paul Howard.

USDT has fallen by about US$6 billion since May, while…