The total market capitalization of USD stablecoins has decreased by $10 billion, now standing at $300 billion, as funds continue to flow into the U.S. stock market. This shift comes amid a six-month downturn in the crypto market, according to on-chain analyst Yu Jin. Tether (USDT) saw a net outflow of $5.7 billion, reducing its total from $189.8 billion to $184.1 billion. Meanwhile, USD Coin (USDC) experienced the largest outflow, with $6.6 billion leaving, dropping its total from $79.6 billion to $73 billion. Circle, the issuer of USDC, has faced pressure, with its stock price falling from $136 to $64, reflecting cooled market growth expectations. In contrast, the stablecoin USD1 recorded a net inflow of $500 million, increasing its total from $4.1 billion to $4.6 billion. This growth is partly due to interest rate subsidy incentives on trading platforms, which influence user behavior.