The stablecoin market lost $7 billion in June 2026, its largest monthly decline since the Terra-Luna collapse. Over the past 30 days, the supply of US dollar-pegged stablecoins alone fell by $5 billion.
A $7 Billion Monthly Loss
June's $7 billion contraction is the steepest monthly drop in stablecoin supply since the Terra-Luna ecosystem imploded in 2022. The decline comes after a period of relative stability in the market. No single cause has been identified in the available data.
US Dollar Stablecoins Lead the Retreat
US dollar stablecoins accounted for the majority of the outflow. Their supply decreased by $5 billion in the 30 days ending in late June. That represents roughly 70% of the total monthly loss across all stablecoins.
Comparing to Terra-Luna
The Terra-Luna collapse in May 2022 wiped out roughly $40 billion in value and triggered a broader crypto downturn. While the current $7 billion loss is smaller in absolute terms, it is the largest monthly decline since that event. The stablecoin market had been recovering and growing in the years after Terra-Luna.
The data does not indicate whether the decline is a temporary correction or the start of a longer trend. No further details on the cause—such as redemptions, market sell-offs, or regulatory actions—have been released.
