Stablecoin Market Sees Largest Monthly Decline in June Since Terra Collapse, but Long-Term Growth Thesis Remains Intact

According to Odaily, the stablecoin market experienced its most significant correction in recent years in June, with the total market capitalization decreasing by $7.7 billion. This marks the largest single-month decline since the Terra-Luna collapse in May 2022. Since peaking in May, the stablecoin market has contracted by approximately $10 billion. Two major stablecoin issuers are the primary drivers of this correction: Tether's USDT market cap has fallen from around $190 billion in May to $184 billion, a decrease of about $6 billion; Circle's USDC has dropped from its high of nearly $80 billion in March 2026 to approximately $73 billion, a decline of roughly $7 billion.

However, compared to the over 26% cumulative decline the stablecoin market experienced during the crypto winter of 2022, the current adjustment is relatively modest. Wall Street institutions remain optimistic about the long-term prospects of stablecoins. Citigroup previously projected that, under a baseline scenario, the global stablecoin market could reach $1.9 trillion by 2030, and under an optimistic scenario, it could climb to $4 trillion. (CoinDesk)

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Apple's total market cap reaches $5.06 trillion, setting a new all-time high
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Today, U.S. Bitcoin ETFs saw a net outflow of 788 BTC, and Ethereum ETFs saw a net outflow of 29,926 ETH
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Seven-day loss of $11.27 million, Machi still holds a 25x long position on 7,150 ETH
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Bank of America: A Fed Rate Hike in October Would Be the Biggest Bullish Catalyst for US Stocks
Odaily News: While equity investors around the world are still steering clear of the word "rate hike," Bank of America strategist Michael Hartnett has put forward a counterintuitive judgment: if the Federal Reserve chooses to proactively raise rates in October, it would not be a negative, but could instead become the biggest bullish catalyst supporting risk assets and underpinning US stocks.In Hartnett's view, against the current backdrop, if the Fed remains on hold for too long, bond investors will continue to demand higher term premiums, pushing long-end yields further up and ultimately forcing financial conditions to tighten on their own. Conversely, if the Fed proactively raises rates at its October meeting, sending a hawkish signal to curb inflation risks ahead of time, long-end yields could instead stabilize. In that case, the short-term shock from a rate hike may prove less damaging than the greater harm caused by disorderly bond market volatility. (CLS)
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