The stablecoin market increased in the last few weeks.
From mid-August to mid-September, the stablecoin market bounced back up to $305B in global market cap according to DefiLlama stablecoin metrics.
This follows a $300B stablecoin market low at the start of August.
Stablecoin Volume and Inflows
While the second part of 2026 saw a very moderate to no major growth in net Q2 stablecoin reserves and issuance, stablecoin volume continues to stay above $1T in monthly volumes.
So far, January remains the lowest recorded month this year with around $1.168T in monthly stablecoin volume. 6 months later, June hit this summer’s peak at $1.834T.
Interestingly, last August stablecoin volume stood at at $940.76B vs. $1.259T reported this August, representing a 33.8% YoY growth.
Also, $3.36B in stablecoin inflows were recorded in August as a 3 month outflow streak breaks since May.
Specifically, Circle’s USDC stablecoin took first place with $1.65B and 49% of all inflows. RLUSD took second place with $799M, and USDe stablecoin took third place with $236M
Recently, USDC crossed $100T in total onchain volume.
Overall, the stablecoin market appears to be picking up again in Q3.
The thing to watch out for is if both stablecoin monthly volumes and inflows can rise in the remainder of the year.
