Crypto
USDC Supply Surges $5 Billion Amid Expanding Stablecoin Market
Circle's USDC stablecoin supply has surged $5 billion over the past week, reaching $73.88 billion in circulating supply. This growth represents a 2.67% increase in seven days, according to DefiLlama.
The broader stablecoin market has expanded to $303.71 billion, with Tether's USDT remaining the largest stablecoin at $183.17 billion in market capitalization.
A significant increase in minting activity was reported by Lookonchain on August 21, indicating that Circle and Tether had combined to mint roughly $3 billion in stablecoins over a 48-hour period. However, it's essential to note that gross minting may not mean all newly created tokens entered circulation.