Which stablecoins increased supply this week?

TLDR

USDT (Tether USDt) and USDC increased supply this week.

1. USDT: roughly $1 billion new issuance this week per a minting update (report).
2. USDC: net circulation rose by about 100 million over the past seven days (exchange post).
3. Stablecoin reserves on exchanges climbed, signaling fresh dry powder (market update).

Deep Dive

1. USDT Issuance

USDT saw notable net issuance this week, with about $1 billion minted.

• Media summaries note a fresh USDT tranche and a broader month-long minting wave by Tether (overview).
• Additional coverage flagged another $1 billion USDT creation tied to liquidity needs across venues and chains (market note).

2. USDC Net Increase

USDC circulation posted a modest weekly uptick, roughly 100 million net over seven days.

• An exchange post cited about 6.4B issued and 6.3B redeemed over the week, netting a ~100M increase; total USDC stood near 75.4B supported by reserves (exchange post).
• Circle also reported stronger recent demand for USDC, with circulation more than doubling year over year to $73.7B and improved revenues (news).

3. Reserves Rising

Exchange reserves of stablecoins rose meaningfully this week, supporting the supply increase backdrop.

• Analysts highlighted around $2.63B net inflows into exchanges, implying sidelined capital preparing to deploy when market conditions improve (market update).
• Historical patterns link rising stablecoin reserves to improved liquidity and potential risk-on phases when technical triggers align (market update above).

Conclusion

This weeks net supply growth was led by USDT and USDC, with exchange stablecoin reserves also rising. If liquidity continues to build and risk signals improve, the increased stablecoin supply could translate into fresh bid depth across BTC and altcoins. Monitor mint/redemption trends and exchange inflows to gauge whether this dry powder moves from stablecoins into risk assets.