Stablecoin Issuance Surges Amid Market Downturn

According to TechFlow, on October 11, blockchain analysis platform Lookonchain reported that Tether and Circle collectively issued $1.75 billion in stablecoins following a market decline. This issuance reflects the ongoing demand for stablecoins as investors seek refuge from market volatility. The move by these centralized exchange (CEX) operators highlights the role of stablecoins in providing liquidity and stability in the cryptocurrency market.