Tether Mints $1 Billion USDT on Ethereum Amid Stablecoin Surge
Circle’s $1 billion USDC issuance today pushes combined stablecoin supply growth by Tether and Circle to over $13 billion since October’s market downturn.
ETH
USDT
USDC
Summary
Circle issued $1 billion in USDC today, according to on-chain data. Since the October 11 market crash, Tether and Circle have collectively expanded stablecoin supply by $13.25 billion. The surge reflects sustained demand for dollar-pegged cryptocurrencies amid volatile market conditions.
Terms & Concepts
- USDC: A U.S. dollar-pegged stablecoin issued by Circle, widely used for payments, trading, and decentralized finance applications.
- USDT: A U.S. dollar-pegged stablecoin issued by Tether, used for transferring value with minimal volatility.
- Stablecoin: A cryptocurrency designed to maintain a stable value, often pegged to a fiat currency like the U.S. dollar.