Non-USD Stablecoins Hit $2B as H Token Crash Pressures Altcoins

Circulating supply of non-USD stablecoins reached $2 billion after a 43% increase so far in 2026, with EURC, BRZ and A7A5 accounting for the bulk of that growth.

The total market capitalization of stablecoins has recovered to about $316 billion following two weeks of outflows.

The Humanity Protocol token fell more than 85% on June 8 after a rally of over 150% in late May. The sharp drawdown reversed recent inflows into that token’s ecosystem.

Overall altcoin open interest has declined to roughly $115 billion, down about 25% from an early-January peak near $150 billion and returning to levels seen in mid-March.

Ethereum has traded more than 40% lower in this cycle, a decline roughly twice the scale of Bitcoin’s losses. Bitcoin has corrected by more than 25% in recent weeks and observed spot buying has not fully recovered.

Open interest measures the total number of outstanding futures and perpetual swap contracts and is used to track leverage and speculative activity in derivatives markets. Rising stablecoin balances represent liquidity available for trading, settlements and hedging.

Recent data show higher stablecoin balances alongside reduced derivatives exposure and notable token-specific drawdowns. These figures describe current market positions and liquidity distribution without attributing cause or forecasting future price moves.