Coinbase is offering a 1.25 annualized interest rate on storing USD Coin (USDC) on its platform. The fee may help to offset fees, and is relatively small in comparison to other interest rate schemes offered for the USDC stablecoin.
USDC is one of the coins going through accelerated acceptance and minting. As of October 2, the supply of USDC grew by about 8% overnight. Additionally, whale-watching bots have noticed increased activity on the network. In the past day, 30 million USDT were minted and sent into the crypto ecosystem.