According to CoinMeta, there has been unusually active large-scale issuance of stablecoins across chains and transfers to exchanges recently. In the past 24 hours, the USDT Polkadot chain minted 3 billion USDT, of which 500 million USDT were quickly transferred from Tether’s wallet to Binance after minting. Additionally, an estimated 2 billion US dollars seem to have been transferred across chains to offset Ethereum’s USDT. Excluding cross-chain settlements and transfers between exchanges, the inventories of USDT and USDC increased by nearly 1.6 billion US dollars in the past three days. Correspondingly, the price of BTC soared from 64,000 US dollars to around 80,000 US dollars.