Tether’s USDT Supply Climbs to a New ATH, Reaching $191 Billion Amid Growing Demand for Stablecoins Across Crypto Markets

USDT stablecoin supply has climbed to a new all-time high, reaching an unprecedented level of 191 billion, according to data shared today by market analyst Crypto Patel. The total supply of USDT tokens has climbed to a new all-time high of $191 billion, marking a $21 billion increase in the past two and a half months from the previous supply of $170.3 billion noted on September 14, 2025. As per metrics from the analyst, USDT’s circulating supply now has 191 billion tokens, currently standing at 191,099,037,578 tokens, rising to a new all-time high.

Tether Injects USDT Liquidity in Crypto Markets

The cause of this growth is due to the fact that Tether, the stablecoin issuer of USDT, increases supply when the demand surges. Early this month, on December 2, Tether minted an additional $1 billion in USDT stablecoin into the public cryptocurrency markets. Since the famous crypto crash that happened on October 11, 2025, Tether has so far minted more than $10 billion in USDT, a move that showcases how the key stablecoin issuer is stepping in to stabilize liquidity in the broader crypto market.

Tether often prints huge quantities of USDT to fulfil demand on crypto exchanges, trading platforms, and OTC trading desks. The latest minting activity indicates a high demand for stable liquidity during periods of extreme volatility and market crises, and could be an indicator of what’s to come ahead as crypto assets hold their recovery pace strongly. The market shows signs of a potential recovery, fueled by improving liquidity and a change in macroeconomic conditions, as increasing odds of the Fed rate cut this month contribute to crypto prices rebounding from recent lows.

Since the October 10th crash, Tether has minted billions worth of USDT coins, an event that signifies rising optimism in the resilience of the virtual currency market. These inflows of funds are normally utilized for hedging, purchasing during market dips, and providing liquidity in exchanges, all of which assist in softening the distress of market crashes.

Large mints in stablecoins are normally viewed as bullish indicators. They often signal looming market recovery or preparation by institutional investors to engage in big trading activities. In this situation, Tether seems to be preparing for heightened trading activity following the period of market downturns. Today, Bitcoin and Ethereum are trading at $92,010 and $3,158, up 6.4% and 11.5% over the past week, respectively, a reflection of their recovery from significant lows noticed in late November.

Top 5 Largest Stablecoins by Market Cap

USDT supply increase or stablecoin minting doesn’t automatically guarantee crypto prices’ recovery. They, however, indicate underlying demand and enthusiasm in the market. This printing activity shows that big stablecoin players (like Tether and others) are preparing to meet demands in the digital asset market.

With Tether’s USDT climbing to a record-breaking 191 billion market cap, this solidifies its position as the world’s largest stablecoin. USDC takes the second position as the second-largest stablecoin, with 78.25 billion tokens in its circulating supply.

Ethena USDe (USDe), Dai (DAI), and PayPal USD (PYUSD) follow as the third, fourth, and fifth latest stablecoins, with their circulating supply currently standing at 6.78 billion, 5.36 billion, and 3.84 billion, respectively, according to data sourced today from CoinMarketCap.