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Combined circulation of USDT and USDC rose by about $1.7 billion in August 2026, ending a three-month decline, according to data compiled by Web3-focused media outlet WuBlockchain.
The combined supply had previously fallen by about $2.6 billion in May, $6 billion in June and $2.2 billion in July. Based on historical data, monthly stablecoin growth above $10 billion has marked a key inflection point for stronger liquidity expansion. Monthly increases exceeded $18 billion in 2021 and in late 2024, while they repeatedly reached $8 billion to $12 billion during the 2025 bull market.
Against that backdrop, the current $1.7 billion increase remains modest. Despite Bitcoin rebounding from around $60,000 to nearly $80,000, stablecoin supply growth has yet to recover to levels seen in past bull-market phases, suggesting the current move reflects early-stage liquidity recovery rather than a new phase of broad liquidity expansion.