Matthew Sigel, head of digital assets research at VanEck, reported on X today, November 3, 2026, a notable decrease in stablecoin supply. Sigel stated, "Stablecoin supply is down $11.5B (-3.8%) over 30 days to $291.2B, 7% below its 52-week high. Tether (-$5.7B) and Circle (-$3.2B) account for about three quarters of the drop. Among the 37 stablecoins with $100mn+ in supply, the median is down only 1% over 30 days but a much steeper 23% from 52-week highs."
This decline in stablecoin supply comes amidst a period where the broader digital asset market is experiencing fluctuations. Bitcoin is trading at $77,530, up 0.8% in the last 24 hours, while Ethereum is at $2,284, up 1.5%. Recent Gokhshtein Media coverage has noted significant outflows from Bitcoin ETFs, including BlackRock's ETF posting a $405 million outflow, the largest in four months, and Binance wallets shedding $6 billion as Bitcoin ETFs posted their largest outflow since June.
The reduction in stablecoin supply, particularly from dominant players like Tether and Circle, could signal a decrease in liquidity within the crypto market or a shift in investor sentiment. Sigel's data suggests that while the overall drop is substantial, the median decline across smaller stablecoins is less pronounced over 30 days, yet more significant from their 52-week highs, implying a broad-based but uneven contraction in this segment of the digital asset ecosystem.
