727 FinancePANews November 1 news, according to Sumcap data, since October 28, the total stablecoin supply has decreased by $3.1 billion, now falling to $298.5 billion, the lowest level since August, and down $5.2 billion from January 1, 2026. Previously, Milk Road pointed out that in 2025 the stablecoin supply increased by about $100 billion, with stablecoin supply surging 49%, growing from $203.2 billion to $303.7 billion. Meanwhile, from January 1, 2026 to October 28, it contracted by $2.1 billion overall. The year-to-date peak occurred on May 17 at $315.5 billion, after which all gains were erased.
This stagnation in growth mainly stems from the performance of the two major stablecoins: since January 1, Tether's USDT supply has decreased by $5.3 billion, while Circle's USDC has decreased by $4 billion. At the same time, the supply of various other stablecoins combined increased by $7.2 billion; this means that with the total supply unchanged, smaller issuers are still continuously gaining market share. This stagnation in growth largely echoes the overall market trend. During the same period, Bitcoin's price fell by 7%; in addition, the rules related to the first regulatory framework for U.S. stablecoins, the GENIUS Act, were also officially introduced in October.