Circle and Tether, the world’s two dominant stablecoin issuers, collectively minted $3 billion worth of tokens over 48 hours. Tether alone issued $1 billion in USDT on August 10, bringing its total supply to approximately $183 billion. Circle created $5.4 billion in USDC while redeeming $5.3 billion during the week ending August 13, resulting in a net increase of $100 million. Circle’s average daily minting and redemption activity in Q2 2026 reached $1.9 billion, a 105% increase year-over-year. The combined circulating supply of USDT and USDC now exceeds $250 billion, reflecting sustained demand for on-chain dollar liquidity.
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