In just one week, the supply of the two top stablecoins, Tether’s (USDT) and Circle’s (USDC), has increased by almost $3 billion.
This indicates that investors were quick to seize the opportunity to purchase cryptocurrencies at lower prices after Monday’s market drop.
Tether has transferred $1.3 billion worth of USDT to exchanges and market makers since Monday.
This has caused USDT’s market capitalization to reach over $115 billion, which is a new all-time high.
Similarly, the market capitalization of the second-largest stablecoin, USDC, has also grown by approximately $1.6 billion this week, reaching a high of $34.5 billion, according to TradingView data.
