TLDR
Over the past week, Tether USDt (USDT) led new issuance, highlighted by a reported 1 billion USDT mint.
- Tether USDt (USDT): a 1 billion USDT mint was flagged on 11 Nov, signaling fresh supply movement mint alert.
- USD Coin (USDC): net increase of roughly 100 million tokens over seven days per a market update USDC circulation data.
- Post?October context: Circle and Tether combined minted over $13.25 billion since early October issuance recap.
Deep Dive
1. USDT Mint Spike
A large Treasury mint for Tether USDt (USDT) was reported at 1 billion on 11 Nov, a visible sign of new supply preparation and liquidity confidence among participants mint alert. While not all Treasury mints immediately enter circulation, such size often precedes distribution and is watched as a flow proxy.
If you track risk appetite via stablecoins, large USDT mints are a fast signal to monitor, especially around market inflection points.
2. USDC Net Change
USD Coin (USDC) saw a modest net increase of about 100 million tokens over the seven days into 13 Nov, with roughly 6.4 billion issued and 6.3 billion redeemed in the same period USDC circulation data. Net issuance (mints minus redemptions) is the cleaner metric for new supply, and this snapshot shows USDCs net growth was positive but smaller than USDTs high?profile mint.
3. Broader Supply Context
Since the early?October selloff, combined issuance by Circle (USDC) and Tether (USDT) exceeded $13.25 billion, pointing to sustained dollar?on?chain demand across majors issuance recap. Separately, stablecoin reserves on exchanges have risen in November, a pattern often interpreted as dry powder waiting for redeployment when sentiment turns market view.
Leadership in new issuance can rotate week to week, but aggregate growth in USDT and USDC supply tends to support market liquidity and can precede risk?on phases.
Conclusion
This weeks leadership in new issuance tilted toward Tether USDt (USDT) on the back of a 1 billion mint, while USD Coin (USDC) posted a smaller net increase. The larger picture still shows steady expansion in stablecoin supply since early October, a backdrop that can improve market liquidity as conditions stabilize. Monitoring net issuance and exchange reserves helps gauge when sidelined capital may rotate into risk assets.
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