Almost half a billion USDT minted in past 36 hours as Bitcoin rallies
Of the 450 million new USDT tokens, more than 185 million have been distributed with 126.9 million USDT going to Binance alone The Tether (USDT) Treasury has minted almost half a billion new USDT tokens and distributed more than 185 million tokens to exchanges and other addresses in the last 36 hours. As shown by blockchain tracker Whale Alert, two transactions of 150 million and 300 million USDT tokens were minted on Oct 20 and Oct 21 respectively.The first 150 million was printed only hours before Paypal’s announcement and the Bitcoin (BTC) price rally that followed. Although some raised....
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Massive volatility on crypto markets has been always associated with an uptick on stablecoin markets, a Tether exec noted. Tether (USDT), the world’s largest stablecoin by market capitalization, continues to grow despite record-breaking cryptocurrency outflows triggered by Elon Musk’s Bitcoin (BTC) criticism.On Monday, Tether’s market cap hit $60 billion for the first time in history, marking another milestone of the stablecoin’s growth. According to data from Tether Transparency, USDT market value amounts to $60.4 billion at the time of writing, up over 580% from one year ago.Tether's new....
In an X (formerly Twitter) thread, Coinbase’s director of product strategy & business operations at Coinbase and on-chain sleuth Conor Grogan has revealed how FTX’s Alameda Research allegedly contributed to Tether’s USDT dominance. Alameda Minted $39.55B of USDT On-chain data gathered by Grogan revealed that the trading firm minted $39.55 Billion worth of USDT, a […]
The $3 billion USDC influx puts the total supply of the stablecoin at around $14,4 billion, reaching over a quarter of Tether's market cap. More USD Coin (USDC) was printed on April 30 than at any time in the dollar-backed stablecoin’s existence, as just over $3 billion was minted in one fell swoop. New USD Coins are minted whenever a customer exchanges their U.S dollars for the stablecoin, and Friday’s influx amounted to over 26% of its market cap at the time. The sudden arrival of $3 billion worth of USDC into the cryptocurrency market coincides with a surging altcoin market, evidenced....
The 50 billionth USDT token has been minted, Tether has confirmed. The market capitalization of Tether (USDT), the world’s largest stablecoin, zipped past $50 billion on Monday, in a sign that the cryptocurrency bull market was still heating up. Tether Operations Limited confirmed the milestone on Friday, with roughly 50 billion USDT now reported to be in circulation. Tether’s supply, and hence its market cap, has grown by more than a factor of 10 over the last 12 months. That includes 25% growth in the span of a month. As a dollar-backed stablecoin, one USDT is equivalent to $1 in assets....
The winds of change are swirling around Ethereum (ETH), the world’s second-largest cryptocurrency. While the Ethereum network itself is buzzing with activity, the price of ETH has taken a tumble in recent days, leaving investors scratching their heads. Related Reading: All Quiet On The Bitcoin ETF Front – Should You Be Paranoid? A glimmer of hope emerged with Tether’s (USDT) recent movement. Tether, the issuer of the world’s most popular stablecoin pegged to the US dollar, transferred a whopping $318 million worth of USDT from its treasury wallet directly to exchanges on....