Tether, the issuer of USDT — the world’s largest stablecoin — has minted over $1.3 billion worth of USDT since the market bottomed on Aug. 5. The $1.3 billion was transferred to some of the most popular centralized cryptocurrency exchanges — including Kraken, Coinbase, OKX and Bullish.

Large stablecoin inflows to crypto exchanges could signal incoming buying pressure, as stablecoins are the main on-ramp from the fiat to the crypto world used by investors.