ChainCatcher reported that according to CoinDesk, the supply of the two major stablecoins Tether (USDT) and Circle (USDC) increased by nearly US$3 billion in a week, indicating that investors rushed to buy cryptocurrencies at the bottom after the plunge on Monday.
According to Lookonchain monitoring, Tether has transferred $1.3 billion worth of USDT to exchanges and market makers since Monday, and the market value of USDT has exceeded $115 billion, a new high; the market value of the second largest stablecoin USDC also increased by about $1.6 billion this week to $34.5 billion, the highest level since March 2023.
David Shuttleworth, research partner at Anagram, noted that USDC saw inflows of $1.36 billion on the Ethereum network, while USDC saw inflows of $356 million on Solana.
