Google searches for "stablecoins" have dropped significantly, with June's search interest reading at 31, down approximately 54% from May's 98, according to The Block. This marks a sharp decline from the peak value of 100 in August 2025. Concurrently, the total supply of stablecoins, which had been expanding for ten consecutive months, peaked in early June 2026 at just under $300 billion. It has since decreased by about $5 billion over three weeks, with a year-to-date growth of only 0.23%, a stark contrast to the 56% and 46% growth seen in 2024 and 2025, respectively. The decline in both search interest and supply growth is attributed to the market's adjustment to the "GENIUS Act" passage, Circle's IPO, and expectations of stablecoin issuance by several banks. Retail investors may have largely entered the market, and attention is now on the fourth quarter when the GENIUS Act is expected to be fully implemented, potentially impacting competition among stablecoins like USDT and USDC.