STABLECOIN SUPPLY DROPS BY $10 BILLION The aggregated market cap of the top stablecoins has dropped by $10 billion over the past two months, bringing the total stablecoin supply down to roughly $263 billion. On-chain data reveals this reduction is driven by heavy capital redemptions from the market’s two dominant liquidity providers: • USDC Outflows: Circle’s USDC supply fell by $6.6 billion, dropping from $79.6 billion to $73.0 billion. • USDT Outflows: Tether’s USDT supply decreased by $5.7 billion, dropping from $189.8 billion to $184.1 billion. Stablecoin contraction historically reflects a macro pullback phase, as active capital is redeemed for fiat or sidelined during broad market corrections.(Ali Charts)