The market capitalization for stablecoins fell 2.4% to $312 billion in June, according to analysts from CoinDesk. That's a $7.7 billion decline for the month, and makes it the largest drop the stablecoin market has seen since May 2022--when the TerraUSD stablecoin lost its $1 peg and collapsed, with a value of 0.005 cents as of today. The decline in capitalization last month coincided with an 18% drop in bitcoin. June also saw multiple stablecoins get depegged from the USD, CoinDesk adds. Cryptocurrencies are down today, with bitcoin off 1.2% to $63,053, ethereum down 1.3% to $1,769, and XRP 2.1% lower to $1.11. (kirk.maltais@wsj.com)