Stablecoin market cap down $12.7B since May, led by USDT and USDC

The total stablecoin market capitalization has fallen by $12.73 billion since May 22 to $300.36 billion as of Oct. 25, Bitcoin.com reported, citing DefiLlama data.

USDT and USDC led the decline, according to the report. USDT’s market cap stood at $182.423 billion, down $1.29 billion over the past 30 days, while USDC’s fell by $4.69 billion over the same period to $71.743 billion.

Stablecoins are generally seen as capital waiting to buy cryptocurrencies, and a decline in market capitalization may be interpreted as weaker buying demand.

Source: Coinness