### New Historical High Reaches $191 Billion Amid Growing Demand for Stablecoins in Crypto Markets
Tether's USDT supply has reached a new historical high of $191 billion, according to data shared today by market analyst Crypto Patel. The circulating supply of USDT tokens has risen to $191 billion, marking an increase of $21 billion over the last two and a half months since the previous supply of $170.3 billion recorded on September 14, 2025. The current circulating supply is 191,099,037,578 tokens, reflecting a rise to the historical peak.
Crypto Patel announced via platform X: "Collapse: The supply of $USDT has exceeded $191 billion, a new historical high. Tether strengthens its dominance as the largest stablecoin as demand for stablecoins continues to rise. This is huge for crypto liquidity."
#### Tether's Injection of USDT Liquidity into Crypto Markets
The reason for this growth is Tether's increase in supply when demand rises. Earlier this month, on December 2, Tether minted an additional billion dollars of USDT in public crypto markets. Since the famous crypto collapse on October 11, 2025, Tether has minted more than $10 billion of USDT, showing how the leading stablecoin company intervenes to stabilize liquidity in the broader market. Tether often prints massive amounts of USDT to meet demand on trading platforms, exchanges, and over-the-counter trading. Recent minting activities indicate high demand for stable liquidity during periods of extreme volatility and market crises, and may be an indicator of what lies ahead as crypto assets continue to recover strongly.
The market shows signs of potential recovery, supported by improved liquidity and changes in macroeconomic conditions, as the prospects of interest rate cuts by the Federal Reserve this month contribute to the rebound of crypto prices from their recent lows. Since the collapse on October 10, Tether has minted billions of dollars of USDT, an event indicating increasing optimism about the resilience of the virtual currency market. These flows are typically used for hedging, buying during market downturns, and providing liquidity on platforms, helping to cushion the impact of market crashes.
Large minting operations in stablecoins are generally considered positive indicators, as they suggest an upcoming market recovery or institutional investors' readiness for large trading activities. In this case, it seems that Tether is preparing for high trading activity after a period of market downturns. Today, Bitcoin is trading at $92,010 and Ethereum at $3,158, up 6.4% and 11.5% respectively over the past week, reflecting their recovery from their lowest recorded levels in late November.
#### Top 5 Stablecoins by Market Capitalization
Increasing the supply of USDT or minting stablecoins does not automatically guarantee a recovery in crypto prices, but it indicates underlying demand and enthusiasm in the market. These activities show that major players in stablecoins are preparing to meet demand in the digital asset market.
With Tether's USDT rising to a record market value of $191 billion, this strengthens its position as the largest stablecoin in the world. USDC ranks second as the second-largest stablecoin, with a circulating supply of 78.25 billion tokens. Following is Ethena USDe (USDe) in third place, Dai (DAI) in fourth, and PayPal USD (PYUSD) in fifth, with current circulating supplies of 6.78 billion, 5.36 billion, and 3.84 billion respectively, according to data from CoinMarketCap today.
