Which stablecoins minted most this week?

TLDR

USDT (Tether) and USDC (Circle) showed the largest mints this week. Multiple $1B mint events were reported for USDT and USDC on X, indicating fresh inventory and potential liquidity shifts (USDT mint 1B, USDT mint 1B on Tron, USDT + USDC 2B in 12 hours).

1. Tether USDT: at least one $1B mint, and one post citing $1.3B routed to HTX (USDT 1B, USDT 1.3B to HTX).
2. Circle USDC: $1B mint reported (Solana) within hours of the USDT event (USDC 1B, USDT + USDC 2B in 12 hours).
3. USD1 growth: USD1 crossed $3.12B market cap, drawing attention to its rapid supply expansion (USD1 at $3B+).

Deep Dive

1. USDT Mints

USDT had multiple large mints this week, including a $1B replenish inventory on Tron and a post citing $1.3B sent to HTX (USDT 1B, USDT 1.3B to HTX). These are typically authorized but not issued until moved from the treasury, meaning impact depends on whether funds flow to exchanges (USDT 1B context).

2. USDC Mints

Circle minted about $1B USDC (reported on Solana) within the same 12-hour window as USDTs $1B, totaling $2B minted across the two issuers (USDC 1B, USDT + USDC 2B). Such synchronized mints suggest anticipated demand, market-making needs, or treasury positioning rather than immediate market deployment.

3. USD1 Supply Expansion

USD1 (World Liberty Financial) crossed $3.12B market cap, putting it near the top tier of stablecoins and highlighting rapid recent growth (USD1 at $3B+). Separately, coverage this week emphasized stablecoin market cap records near $310B, underscoring sustained issuance and demand (record market cap).

Conclusion

USDT and USDC led weekly mint activity with multiple $1B prints, while USD1s supply growth crossed $3B. The key is whether these mints are actually issued and move to exchanges. Watch on-chain treasury transfers and exchange stablecoin balances to gauge near-term liquidity effects.