USDT circulation sees largest drop since 2022, trading volume trails USDC

The circulating supply of USDT has fallen by $1.5 billion in February, marking its largest decline since the collapse of FTX in 2022, Bloomberg reported, citing data from Artemis. The report noted that while stablecoin growth expanded under the crypto-friendly Trump administration, its pace has slowed since last October amid a broader crypto market correction. As of February, the total circulating supply of all stablecoins stands at approximately $304.6 billion, an increase from the previous month. USDC's supply grew by about 5% to roughly $75.7 billion. In contrast, USDT's circulation, which peaked at around $187 billion in early January, had dropped below $184 billion by Feb. 18. Meanwhile, total stablecoin trading volume last year reached $33 trillion, a 72% increase from 2024. USDC also led in this category, with its trading volume of $18.3 trillion surpassing USDT's $13.3 trillion.