Tether (USDT) and USD Coin (USDC) Reach Record Circulating Supply Highs... Signal for Continued Crypto Rally
Summary
- It was reported that the circulating supplies of major stablecoins, Tether (USDT) and USD Coin (USDC), have reached all-time highs.
- The increase in the circulating supply of USDT and USDC raises the likelihood of investment funds entering the market and is fueling the price surge of major coins.
- The expansion in the circulation of the two stablecoins is highlighted as a key indicator of increased liquidity and the recovery of investor sentiment in the market.
On the 11th (local time), according to cryptocurrency-focused media outlet CoinDesk, the circulating supplies of major stablecoins Tether (USDT) and USD Coin (USDC) hit all-time highs this week, sending positive signals for the ongoing cryptocurrency market rally.
The outlet stated, "The increase in the circulating supply of USDT and USDC raises the likelihood of investment capital flowing into the market and is fueling the upward momentum for major coins such as Bitcoin (BTC)."
Specifically, the market capitalization of USDC has increased by approximately $1.3 billion since July, and USDT’s market cap has similarly grown by about $1.4 billion during the same period.
The expansion in circulation of these two stablecoins is interpreted as a key indicator of rising market liquidity and the recovery of investor sentiment.
JH Kim
reporter1@bloomingbit.ioHi, I'm a Bloomingbit reporter, bringing you the latest cryptocurrency news.
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