Tether and Circle Supplies Soar as Investors Buy the Crypto Dip
CryptoNewsTerminal Staff09 Aug, 2024
Tether and Circle Supplies Soar as Investors Buy the Crypto Dip
Tether (USDT) and Circle (USDC) supplies surged by nearly $3 billion in a week as investors flocked to cryptocurrencies after a price crash, CoinDesk reported. "It's a sign of how much money has flooded into crypto in the past five days as investors looked to buy the dip," the media outlet wrote. Stablecoins like USDT and USDC play a crucial role in the crypto markets, and supply expansion is generally viewed as a sign of overall market health. The recent surge in stablecoin supplies suggests that investors are regaining confidence in the crypto market and are willing to invest despite the recent volatility.
