Stablecoin market shrinks for the first time in four years, but usage tells a different story

Stablecoin market shrinks for the first time in four years, but usage tells a different story

Stablecoin supply contracted 1.6% in Q2 2026 (USDC -$3.7B), first 3-year decline, while Tether captured 60% share. June volume hit $1.79T—proving payments/DeFi adoption, but Tether's dominance poses systemic risk requiring diversification via USDG, USDGO and new issuers.