Google search volume for “stablecoins” has fallen sharply in June, down to a partial-month reading that annualizes to a roughly 54% month-over-month drop, as aggregate stablecoin supply reverses a ten-month expansion, according to The Block. The August 2025 search peak coincided with the GENIUS Act’s passage and a wave of issuer announcements from Stripe, Visa, Mastercard, and US retail banks, but total supply has since peaked just under $300B and slipped about $5B over three weeks. Supply is now up just 0.23% year to date, a stark slowdown from 56% growth in 2024 and 46% in 2025. The Block reads the pattern as a sign the “stablecoin moment” already happened, with the GENIUS Act, Circle’s IPO, and bank-issuer announcements fully priced into supply and little new retail audience left to onboard.
