Greater than $1.75 billion in new USDT and USDC entered circulation after President Donald Trump’s tariff announcement on China triggered the latest market crash.
On October 11, blockchain analytics agency Lookonchain reported that Tether, the world’s largest stablecoin issuer, minted roughly $1 billion value of USDT on Ethereum.
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New Stablecoin Mints Recommend Buyers Shopping for the Crypto Dip
Crypto analyst JA Maartun, citing CryptoQuant knowledge, famous that Tether minted $775.8 million on Oct. 10 and one other $771 million on Oct. 11. Notably, this represents one of many largest short-term issuance bursts this 12 months.
With this growth, Tether’s complete provide now stands at $180 billion, together with $80 billion on Ethereum alone.
In the meantime, Circle—the issuer of USDC—minted $750 million in new tokens on Solana. This transfer boosted its complete holdings on the community to $12.84 billion and raised its total provide to almost $75 billion.
The timing of those issuances is critical.
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On Friday, the crypto market misplaced about $20 billion in leveraged positions following Trump’s tariff growth. This triggered a steep sell-off throughout main property akin to Bitcoin and Ethereum.
The ensuing liquidation cascade worn out over-extended longs and erased double-digit positive factors from earlier within the week.
Nonetheless, the wave of recent stablecoin mints means that market individuals are reallocating capital by way of secure property. As a substitute of exiting the house, they’re positioning themselves for renewed market alternatives.
Contemplating this, market analysts have interpreted the transfer as an indication that merchants are positioning to build up digital property at discounted costs.
Supporting that view, blockchain tracker Lookonchain reported that Bitmine, an Ethereum-focused funding agency, acquired roughly 128,700 ETH value about $480 million shortly after the crash.
In line with the agency, six wallets tied to the ETH treasury firm withdrew the funds from buying and selling platforms, FalconX and Kraken, inside hours of the downturn.
So, the swift return of capital through new USDT and USDC issuances underscores how rapidly sentiment in digital markets can rebound, even after a pointy macro-driven correction.