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Stablecoin transaction volume hits $1.79T in June as supply shrinks
Adjusted stablecoin volume rose 63% from May to a June record of $1.79 trillion, while the stablecoin pool in circulation fell by $7.7 billion over the same four weeks.
CryptoSlate reports that adjusted stablecoin transaction volume reached a record $1.79 trillion in June, helped by broader on-chain activity that climbed 63% from May’s $1.10 trillion.
The outlet added that over the same four-week period, the total pool of stablecoins in circulation shrank by $7.7 billion, the largest monthly dollar decline since the TerraUSD collapse in May 2022, signaling a potentially tighter liquidity base even as usage rose.
Visa Onchain Analytics, using an adjusted measure meant to exclude high-frequency bots and certain repetitive calls, also said adjusted volume in the first half of 2026 totaled $8.82 trillion, already above the $5.8 trillion recorded in all of 2024.
CryptoSlate noted that yield-bearing stablecoins drove most of Q2’s adjusted volume decline, falling 15% and losing more than $3.5 billion, while some treasury-backed products posted gains, including BlackRock’s BUIDL up 2%, Circle’s USYC up nearly 16%, and Ondo’s USDY up more than 66%.