Tether and Circle Mint $3B in Stablecoins Over Two Days
Circle and Tether have been aggressively minting stablecoins over the past 48 hours, collectively creating $3 billion in USDT and USDC. This has contributed to a surge in dollar-denominated liquidity across blockchain networks.
Tether led the charge, minting $1 billion in USDT on August 10, which brought its total circulating supply to approximately $183 billion. Circle was not far behind, creating roughly $5.4 billion in new tokens during the week ending August 13 while redeeming about $5.3 billion.
This net result was a modest increase of $100 million in circulation, bringing the total USDC supply to around $71.9 billion. Circle's average daily minting and redemption activity has been increasing, reaching $1.9 billion during Q2 2026, a 105% increase from the same period last year.
The two stablecoin issuers have different strategies: Tether operates across multiple chains including Tron and Ethereum, while Circle has focused on regulatory engagement, transparency reports, and broad blockchain coverage.