Stablecoin Issuance Soars to $9.5 Billion in a Month, Driving Crypto Market Growth

The cryptocurrency landscape witnessed a significant surge in stablecoin issuance during the past month, reaching a staggering $9.5 billion. This increase highlights a shift within the digital finance realm, driven primarily by Tether (USDT) and Circle’s USDC. Analysts attribute this rapid growth to the increasing demand for stablecoins as traders seek safe havens against market volatility, and their role in supporting DeFi applications. analysis of data by Lookonchain on X reveals that Tether alone minted another 1 billion USDT, contributing significantly to the overall surge. This activity is supported by Circle’s robust USDC minting efforts.