August has been slow for the stablecoin market.
The stablecoin market cap is currently hovering around the $300B mark for the second week running this month, according to DefiLlama stablecoin metrics.
Slow and Steady
Back in April, the market reached a $320B peak.
This is primarily due to a slowdown in stablecoin minting and supply issuance from the top stablecoin issuers, as revealed by the latest stablecoin reserve attestations.
Also, Tether’s USDT reclaims 60% dominance as the largest issuer.
Stablecoin Inflows
While the total stablecoin market cap has reduced, stablecoin inflows are gradually improving.
June saw the largest stablecoin outflows totalling $8.14B. This was more than halved to $3.98B in July.
So far in August 2026, stablecoin inflows are up $500M.
The largest recorded stablecoin outflows were back in 2022 after strong setbacks. At the time, 16.3B and $18.7B outflows were recorded in the summer months of June and July.
In terms of volumes, there have been $239.8B in transactions at this stage in August. It remains to be seen if it will match the $1.4T average over the last 3 months.
