Stablecoin Supply Just Shed $15 Billion in Three Months, the Biggest Drop Since Terra — But It's Not a Depeg

On August 2, 2026, DefiLlama data showed total Stablecoin supply had fallen from a mid-May peak of roughly $322.1 billion to about $307.6 billion — a drop of more than $14.5 billion in under three months, the steepest quarterly decline since the Terra/UST collapse in 2022. June alone wiped out about $11.4 billion, the sharpest single-month contraction since UST imploded. The headline number...