During the major declines in the crypto markets, about $ 300 million in new USDT and $ 105 million in new USDC were created.
While the crypto markets have been losing value at a peculiar pace for the past few days, the supply of almost all stable cryptocurrencies supported by the US dollar, especially the USDT and the USDC, has increased.
Tether has created a new USDT worth $ 295 million in the three days since March 11. Center, a joint venture between Circle and Coinbase, as well as Tether, printed $ 105 million in USDC.
Similar movements were observed in PAX, BUSD and other stable cryptocurrencies, although not as large.
These companies, which are stable cryptocurrencies with the backing of the US Dollar, are thought to be directed towards printing money to meet the intense demand with the sharp decline of Bitcoin.
Tether’s latest data shows that the company’s USDT balance sheet has swelled significantly. Currently, around 5.3 billion USDT is in circulation.