Circle's USDC stablecoin has achieved a new milestone with a market cap exceeding $56 billion, marking a substantial increase in its supply. In the past month, USDC added twice as much to its supply compared to its main competitor, Tether's USDT. Recent reports indicate that $108 million worth of USDC was minted at the USDC Treasury, suggesting strong demand as large investors, referred to as 'whales', are reportedly buying the dip. This trend in stablecoin minting reflects an overall acceleration in the market for digital currencies.