The supply of USDT and USDC has increased by nearly $3 billion in a week.

PANews reported on August 10 that according to CoinDesk, as the crypto market rebounded, the supply of the two major stablecoins, Tether (USDT) and Circle (USDC), increased by nearly $3 billion in a week, indicating that investors bought cryptocurrencies at low prices after the market crash on Monday. On-chain analysis shows that Tether has transferred $1.3 billion of USDT to exchanges and market makers since Monday, pushing its market value to over $115 billion, a record high. At the same time, the market value of USDC also increased by about $1.6 billion this week to $34.5 billion, the highest level since March 2023. Data shows that a large amount of funds have flowed into exchanges, especially Binance, with deposits of USDT and USDC reaching $1.5 billion and $820 million, respectively, in four days.