[Afternoon News Briefing] Stablecoin Supply Decreases 3.8% Over 30 Days, etc.

Stablecoin supply contracted by $11.5 billion over the past 30 days, a 3.8% decline that left total supply at $291.2 billion, according to VanEck digital-asset research head Matthew Sigel, who attributed roughly three-quarters of the drop to Tether and Circle. The shrinkage matters as a signal of liquidity draining from crypto markets, with the two dominant issuers accounting for most of the outflow. Separately, SoSoValue data showed $605,100 in net inflows to spot Hyperliquid (HYPE) ETFs on the 3rd, while combined Zcash (ZEC) and Near Protocol (NEAR) ETFs saw $7.18 million in net outflows. Watch whether stablecoin supply stabilizes in the coming weeks and whether HYPE ETF demand holds up as ZEC and NEAR products continue bleeding.