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Covalent
Covalent|Sep 07, 2026 13:05
USDS just printed $22.71B in mint volume and yet Supply went the other way. Mint volume jumped from $438M → $22.71B, but net issuance fell 129% and Sky Dollar is still around $6.6B. So this wasn't $23B of fresh stablecoins hitting the market.(Covalent)
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