PANews, June 25 news, according to The Block, Google search interest for “stablecoins/稳定币” in June registered only 31, annualized about 45, down roughly 54% from 98 in May, and far below the peak of 100 in August 2025. Over the same period, total stablecoin supply peaked in early June 2026 after 10 consecutive months of expansion, with a scale just under $300 billion, then retreated about $5 billion over the following three weeks. Year-to-date cumulative growth was only about 0.23%, a sharp deceleration from 56% in 2024 and 46% in 2025. The report noted that this synchronized weakening of search interest and supply is related to the fact that expectations for the passage of the “GENIUS Act,” Circle’s IPO, and the issuance of stablecoins by multiple banks have largely been priced in. Retail incremental users may have largely finished entering the space. Going forward, the focus will be on competition for existing funds between U.S. bank-affiliated stablecoins and USDT, USDC after the GENIUS Act is officially implemented in the fourth quarter.