Tether mints billion USDT, boosting market liquidity. Bitcoin hits 0k thrice, showing USDT’s impact on crypto market stability. Tether has minted an additional billion in USDT on December 7, continuing its recent trend of significant coin issuance. According to data from Lookonchain, Tether has minted a total of billion USDT on Ethereum and Tron since November 6. This comes after the billion USDT created on December 3, indicating that there was another massive creation of the token. The issuance on November 17 involved a similar move when Tether minted billion USDT on Tron network without attracting any fees. Arkham Intelligence, a blockchain analytics firm, reported that this minting process involved a Tron-based wallet. This wallet sent the newly minted tokens to an
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Bilal Hassan considers the following as important: Stablecoins, Tether minting, USDT
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Tether mints $2 billion USDT, boosting market liquidity. Bitcoin hits $100k thrice, showing USDT’s impact on crypto market stability.
Tether has minted an additional $2 billion in USDT on December 7, continuing its recent trend of significant coin issuance. According to data from Lookonchain, Tether has minted a total of $19 billion USDT on Ethereum and Tron since November 6. This comes after the $1 billion USDT created on December 3, indicating that there was another massive creation of the token.
The issuance on November 17 involved a similar move when Tether minted $1 billion USDT on Tron network without attracting any fees. Arkham Intelligence, a blockchain analytics firm, reported that this minting process involved a Tron-based wallet. This wallet sent the newly minted tokens to an address labeled “Tether: MultiSigwallet.” From there, the funds were transferred to Tether’s treasury. This was a unique circumstance in the crypto market as it did not come with any attached fee for the operation.
These minted funds have been continuously invested in different cryptocurrency exchanges. This factor has been active in the market, supporting liquidity and trading volume. Consequently, the large USDT circulation plays a key role.
Bitcoin Hits 100k Three Times Amid Tether USDT Minting
In these evolutions, the price of Bitcoin hit $100k three times. This milestone proves that the cryptocurrency market has been bullish for quite some time now, and the effect of Tether USDT on the market sentiment. The timing of these massive shifts in market shows the correlation between stablecoin supply and the rest of the cryptocurrency ecosystem.
While Ethereum and Tron both have large USDT circulations, their ecosystems differ greatly in scale. This distinction impacts how each network influences the crypto market. Ethereum still has a much larger and more network and is more decentralized compared to Tron as both have a large circulation of USDT. The surge in USDT circulation highlights Tether’s role in boosting market liquidity. This, in turn, is vital for maintaining price stability and fostering investor confidence.
Lastly, Tether has been actively minting new USDT. This move makes it one of the significant actors in the crypto industry. Tether’s actions are significant for both the stablecoin and broader crypto markets. Their large-scale operations help boost market liquidity and stability. This expansion supports overall market growth and investor confidence. With Bitcoin’s price reaching new highs, the stability and flow of USDT play a crucial part in sustaining market growth.