Tether and Circle minted a total of $1.25 billion in new stablecoins today

according to Lookonchain statistics, Tether minted 1 billion USDT today, and Circle minted 250 million USDC. In the past month, Tether and Circle have minted a total of stablecoins worth $8.75 billion.

The increase in the number of stablecoins minted on-chain usually reflects the growing demand for stablecoins in the market and increased user participation, often related to bullish sentiment in the crypto market, with more funds flowing into the crypto ecosystem.