USDT and USDC total supply increased by nearly $3 billion in a week

The total supply of the two stablecoins Tether (USDT) and Circle (USDC) has increased by nearly $3 billion in a week. This indicates that investors have been buying cryptocurrencies at lower prices since the crash on Monday, August 5th.On-chain data shows that since Monday, Tether has transferred $1.3 billion worth of USDT to exchanges and market makers. With the latest issuance, the market capitalization of USDT has risen to over $115 billion, a new all-time high.Meanwhile, according to TradingView data, the market capitalization of the second largest stablecoin USDC has also increased by about $1.6 billion this week, reaching $34.5 billion, the highest level since March 2023.In addition, according to DefiLlama data, in the four days after the Monday crash, Binance's USDT deposits exceeded $1.5 billion, and USDC deposits exceeded $820 million.