Stablecoin supply shrinks $14.2 billion, biggest drop since 2022 bear market

Stablecoin supply contracted by $14.2 billion, the largest drop since the 2022 bear market, with USDT and USDC shedding nearly $11 billion over the past month. Gold-backed tokens held steady during the same period. Traders watch stablecoin supply as a proxy for sidelined capital and liquidity, so a contraction of this size signals capital leaving crypto markets and reduced buying power.