Dollar stablecoin supply stood at $289.07 billion on Nov. 12 after falling $14.86 billion over 30 days, its steepest such decline since May 2022.
Tether (USDT) shed $8.31 billion during the month, ending at $175.65 billion. USD Coin (USDC), issued by Circle, lost $2.97 billion to reach $69.89 billion. Together, the two assets made up about 85% of the dollar stablecoin market and accounted for most of its decline.
The total was close to its September 2025 level. The latest reading also extends a run of declines covered by EconoTimes, which previously reported a $11.5 billion monthlong drop and put supply at $291.2 billion in its earlier report on the decline.
