DeFiLlama

DefiLlama reported a synchronized supply reduction across 40+ stablecoin tokens on May 7, with each losing approximately 41.4% of circulating supply in a single event. The coordinated burn totaled over $21 million across tokens ranging from R and Saga Dollar (each ~$4.4M) to smaller tokens. The identical burn percentages and simultaneous timing across unrelated stablecoins suggest a systemic event rather than individual token actions, though the underlying cause remains unclear and requires further investigation.