## Stablecoin Market Summary (June 2026)

* **Decline in Market Capitalization:** The global stablecoin market capitalization fell by **US$ 7.7 billion** (about Rp 139 trillion) or **2.39%** to **US$ 312 billion** at the end of June 2026. This is the first month-on-month decline in the past five months, even though there was no *depeg* crisis (a loss of the dollar peg).
* **Transaction Volume Surge:** Contrary to its supply, the adjusted transaction volume actually surged to a record **US$ 1.79 trillion** in June 2026—up 63% from May 2026 and up 125% versus June 2025.
* **Dominance of USDT and USDC:**
* **USDT** remains the leader in total market capitalization (reaching about US$ 183.9 billion).
* **USDC** dominates transaction volume with noted **US$ 1.21 trillion** (outpacing USDT), indicating that USDC tokens change hands far more often.
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* **Alleged Fund Shifts:** The decline in stablecoin supply is thought to be partly redirected to tokenized U.S. government bond products (such as those from BlackRock and Circle) to chase yields, although funds could also return to bank deposits or exit the crypto market.
* **Regulatory Factors:** The market is also tracking regulatory developments in the U.S., including the **GENIUS Act** passed in July 2025 to establish a federal framework for payment stablecoin issuers.
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