Tether's USDT and Circle's USDC Combined Supply Grew $3B Amid Crypto Market Rebound

The supply of the two top stablecoins, Tether's (USDT) and Circle's (USDC), grew nearly $3 billion in a week, a sign that investors rushed to buy cryptocurrencies at lower prices after Monday's tumble. Tether transferred $1.3 billion of USDT to exchanges and market makers since Monday, onchain sleuth Lookonchain noted. The market capitalization of second-largest stablecoin, USDC, also grew some $1.6 billion this week to $34.5 billion, the highest since March 2023, TradingView data shows. The growth happened as customers appeared to move funds to exchanges following the sell-off. 

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