USDT Market Cap Drops by $4 Billion in Two Months

cryptonews.ruPubblicato 2026-08-11Pubblicato ultima volta 2026-08-11

Introduzione

Over the past two months, the market capitalization of the stablecoin USDT has decreased by approximately $4 billion, signaling a potential capital outflow from the crypto market, according to on-chain analyst Stacey Muur citing CryptoQuant data. As of August 10, 2026, the 60-day rolling change stood at -$3.64 billion, with the 30-day moving average reaching -$4.8 billion. Notably, USDT's capitalization fell by $870 million in just the last 11 days. This contraction shows a direct correlation with Bitcoin's price, suggesting a broader market cooling. Muur attributed part of the decline to investors converting stablecoins back to fiat and exiting the market post-Bitcoin's peak in 2025, while another factor could be capital rotation towards alternatives like Circle's USDC, which offers different yield opportunities. However, USDC's supply has shrunk even faster, down $2.2 billion over the same period. Muur concluded the reduction is likely a combination of capital seeking yield, a return to fiat, and decreased demand for stablecoins as speculative activity wanes.

The rolling change in the supply of the stablecoin $USDT over the past 60 days is within a $4 billion range, which may indicate capital outflow from the crypto market. This was stated by on-chain analyst Stacy Muir, citing data from CryptoQuant.

Indeed, since the end of June 2026, this indicator has been 'in the red.' As of August 10, 2026, it stands at -$3.64 billion. Meanwhile, the 30-day moving average, applicable directly to the two-month figure, has reached -$4.8 billion.

In the last 11 days alone, the market cap has decreased by $870 million. Also note that this indicator is in direct correlation with the price of Bitcoin, which may point to a general cooling of the market.

"Part of this looks like a direct outflow of funds. Some investors are exchanging stablecoins for fiat currencies and completely leaving the cryptocurrency market after the price of Bitcoin fell from its 2025 peak," noted Muir.

Another possible reason for the decrease in $USDT supply is capital rotation. For example, Circle offers more opportunities in terms of yield.

However, as Muir herself acknowledged, the market capitalization of $USDC is shrinking even faster.

Taking the same 60-day period, the supply of Circle's stablecoin has decreased by $2.2 billion. This is less compared to $USDT, but more if we consider the total market capitalization of both these assets.

"I think it's just a combination of factors. Part of the capital is seeking yield, part is returning to fiat currencies, and the demand for stablecoins is decreasing as speculative activity cools down," she summarized.

Previously, CryptoQuant experts allowed for the possibility of Bitcoin falling to $51,000.

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Domande pertinenti

QAccording to the article, what is the approximate total reduction in the market capitalization of USDT over the past 60 days?

AThe article states that the market capitalization of USDT has reduced by approximately $4 billion over the past 60 days.

QWhat does on-chain analyst Stacy Muur suggest is one of the main reasons for this reduction in USDT supply?

AStacy Muur suggests that one main reason is a direct outflow of funds, where investors are exchanging stablecoins for fiat currency and leaving the crypto market following Bitcoin's price drop from its 2025 peak.

QHow did the market capitalization of USDC change over the same 60-day period compared to USDT?

AOver the same 60-day period, the supply of USDC (Circle's stablecoin) contracted by $2.2 billion, which is less than USDT's reduction in absolute terms.

QWhat correlation does the article mention between USDT's market capitalization and Bitcoin's price?

AThe article mentions that the indicator (change in USDT supply) is in direct correlation with the price of Bitcoin, which could point to a general cooling of the market.

QBesides an outflow to fiat, what is another possible reason for the shrinking stablecoin supply mentioned in the article?

AAnother possible reason mentioned is capital rotation, where capital is moving towards other opportunities, such as those offering higher yield like Circle's products.

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