The increase in the supply of Tether and USD Coin stablecoins suggests strong liquidity supporting the rise of cryptoassets | CoinDesk JAPAN

• Bitcoin has reached an all-time high, while stablecoins like Tether's Tether and Circle's USD Coin have shown a record increase in supply.
• The market capitalization of USD Coin has increased by $1.3 billion since July, while Tether has increased by $1.4 billion. This indicates a significant inflow of funds into the cryptoassets market.
• Analysts see the increase in stablecoins as a sign of new capital inflows into the cryptoassets economy. This is often correlated with the rise of Bitcoin.

According to TradingView data, the two major stablecoins tied to the US dollar, Tether (USDT) from Tether and USD Coin (USDC) from Circle, each recorded their highest supply levels this week. Since July, the market capitalization of USD Coin has increased by $1.3 billion (approximately ¥188.5 billion, based on an exchange rate of ¥145 per dollar) to reach $62.8 billion (approximately ¥9.1 trillion). Additionally, Tether has increased by $1.4 billion (approximately ¥203 billion) to reach approximately $160 billion (approximately ¥23.2 trillion).

Looking back at April when the market recorded short-term lows, its growth is even more remarkable. Tether increased by $15.2 billion (approximately ¥2.244 trillion), and USD Coin increased by $2.7 billion (approximately ¥391.5 billion).

A stablecoin is a type of cryptoasset whose price is linked to external assets (mainly the US dollar). While its popularity as a means of payment is increasing, this asset class serves as a major source of liquidity and trading pairs on cryptoasset exchanges.

As a result, analysts often perceive the growth of stablecoins as an indicator of new capital inflows into the entire cryptoassets economy.

Caleb Franzen, the founder of Cubic Analytics, pointed out in a chart shared on X that the periods of accelerated growth for stablecoins have coincided with Bitcoin's surges.

Listen, it's super simple…

🟠 Bitcoin $BTCUSD 🟢 Stablecoins $USDT + $USDC

Notice anything? pic.twitter.com/tn3dtduiUK

— Caleb Franzen (@CalebFranzen) July 10, 2025

| Translation/Editing: Rina Hayashi | Image: Total Market Capitalization of Tether and USD Coin (CoinDesk Data) ｜Original: Tether/Circle Stablecoin Supply Growth Signals Strong Liquidity Backing Crypto Rally