Tether and Circle minted a total of $1.25 billion in stablecoins today, with more funds flowing into the crypto ecosystem.

ChainCatcher reported, according to Lookonchain statistics, Tether minted an additional 1 billion USDT today, and Circle minted an additional 250 million USDC today. Over the past month, Tether and Circle have collectively minted stablecoins worth 8.75 billions USD.

An increase in the amount of stablecoins minted on-chain usually reflects growing market demand for stablecoins and higher user participation, which is often associated with bullish sentiment in the crypto market, as more capital flows into the crypto ecosystem.