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06/24 06:13

USDC and USDT Supply Both Contracted This Week as

#World Cup Predictions: 100,000 USDT Daily #2026 World Cup Posting Challenge on HTX Square #HTXCommunity4thAnniversary USDC and USDT Supply Both Contracted This Week as Stablecoin Bills Dominate HeadlinesThe two largest stablecoins shed supply over the past seven days, even as legislative tailwinds and a steady drumbeat of institutional partnerships pushed stablecoins to the front of the policy conversation. $USDC circulating supply fell 0.7% over the trailing week, from $75.08 billion to about $74.6 billion, per DefiLlama. Tether's $USDT slipped 0.1% in the same window, from $186.49 billion to roughly $186.3 billion. Both majors contracted at once, the directional opposite of what a regulation-driven expansion would produce. The pullback is small in percentage terms, but it lands against a backdrop of headlines treating stablecoin legislation as a growth catalyst. Float Versus Headlines The qualitative pipeline reads bullish. The Senate has been weighing the CLARITY Act, the GENIUS stablecoin framework is law, and the Bank of England published draft rules for systemic stablecoins this month. Mastercard opened its card-settlement network to stablecoins across eight blockchains, and Japan's three megabanks formed joint stablecoin council. None of that has translated into net new issuance from the two assets that account for the bulk of the market. $USDC and $USDT together hold roughly $261 billion in circulating supply, per DefiLlama. The week's institutional activity is concentrated in positioning, partnerships, and rails, rather than aggregate float.

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