Stablecoin issuers Tether and Circle sharply expanded supply on 28 August, minting more than $3.5 billion in new tokens within hours, according to on-chain data. The burst of activity comes as demand for dollar-pegged assets rebounds across major public blockchains. Tether Treasury created two separate $1 billion tranches of USDT on Ethereum, lifting fresh issuance to about $2 billion over 24 hours. Additional movements included transfers of 120 million USDT to Bitfinex, 200 million to lending protocol Aave and 108 million to the Gate platform, indicating the newly minted coins are already being deployed for trading and liquidity provisioning. Circle, the operator of USDC, added at least $1.7 billion to circulating supply, minting roughly $500 million early in the day, $750 million on Solana and a further $450 million on Ethereum, blockchain records show. The latest transactions raise Circle’s 2025 issuance to about $26 billion and coincide with analytics data indicating more than 30 million unique addresses now hold Circle-denominated stablecoins. The flurry of mints helped push the combined market value of stablecoins on Solana back above $12 billion, the highest level in 15 weeks. Market observers say the influx of fresh dollar liquidity could bolster decentralized-finance trading volumes and signal growing investor appetite ahead of the year’s final quarter.