Tether and Circle minted a total of $1.25 billion in stablecoins today, with more funds flowing into the crypto ecosystem.
ChainCatcher reported, according to Lookonchain statistics, Tether minted an additional 1 billion USDT today, and Circle minted an additional 250 million USDC today. Over the past month, Tether and Circle have collectively minted stablecoins worth 8.75 billions USD.
An increase in the amount of stablecoins minted on-chain usually reflects growing market demand for stablecoins and higher user participation, which is often associated with bullish sentiment in the crypto market, as more capital flows into the crypto ecosystem.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
CryptoQuant: Whales have deposited approximately $7.5 billion worth of BTC to a certain exchange in the past month
Today, BTC options with a notional value of $13 billion expire, with the max pain point at $98,000.
CME Group: BrokerTec EU market is now open for trading, all other markets remain suspended
Trending news
MoreCrypto prices
More
