According to Odaily, the supply of two major stablecoins, Tether (USDT) and Circle (USDC), has surged by nearly $3 billion within a week. This increase indicates that investors are buying the dip in cryptocurrencies following a significant market drop on Monday. Monitoring data from Lookonchain reveals that since Monday, Tether has transferred $1.3 billion worth of USDT to exchanges and market makers, pushing its market capitalization to over $115 billion, a new record high. Similarly, the market capitalization of USDC, the second-largest stablecoin, has risen by approximately $1.6 billion this week, reaching $34.5 billion, the highest level since March 2023.

David Shuttleworth, a research partner at Anagram, highlighted that the Ethereum network saw an inflow of $1.36 billion in USDC, while the Solana network experienced an inflow of $356 million in USDC. This substantial movement of funds into stablecoins suggests a strong investor interest in stabilizing their portfolios amid market volatility.