Stablecoin Issuance Soars Amidst Market Downturn

Amid a volatile cryptocurrency market, Tether and Circle have seen a surge in stablecoin issuance, releasing $1.75 billion according to blockchain analysis platform Lookonchain on October 11th. This spike demonstrates investors’ continued reliance on stablecoins as they seek refuge from the unpredictable price fluctuations of cryptocurrencies. The actions of these centralized exchange (CEX) operators illustrate the vital role that stablecoins play in providing liquidity and stability within the cryptocurrency market.