Stablecoin Market Cap Drops 1% to $308.3B Amid Three-Month Net Outflow

Stablecoin market cap fell 1% to $308.3B in July, marking three consecutive months of net outflows totaling $13.3B. USDT transaction counts hit records while USDC dominated transfer volume.

Woofun AI data shows that the total stablecoin market capitalization stood at approximately $308.3 billion in July, reflecting a 1% decline from June and maintaining a range between $300 billion and $320 billion for ten consecutive months. The sector experienced cumulative net outflows of roughly $13.3 billion from May through July, representing the longest such period since 2022. Divergence persisted between major tokens: USDT on-chain transactions reached an all-time high of 861.4 million, up 11.4% month-on-month, whereas USDC transactions fell to 656.7 million.

However, USDC led in transfer value with approximately $3.6 trillion, compared to $1.4 trillion for USDT. Stablecoin payment card deposits surpassed $1 billion for the first time, reaching $1.084 billion with a 15.9% monthly increase, driven largely by a 46% surge in USDC deposits versus 7% for USDT. Payment sector financing totaled approximately $244 million, ranking second in crypto industry fundraising.