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....
The stablecoin market is once again making headlines as two of the largest issuers, Tether (USDT) and Circle (USDC), significantly expanded supply in just hours. According to data shared by Lookonchain, Tether minted another 1 billion USDT, while Circle printed 500 million USDC only seven hours earlier. These issuances highlight how stablecoins continue to play […]
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 […]
Tether has just minted another 1 billion USDT, only hours ago, reigniting debate over stablecoin-driven liquidity flows across the crypto market. The mint comes at a crucial time — Bitcoin is struggling to reclaim higher levels after weeks of volatility, while altcoins continue to bleed as if a full-blown bear market were underway. These mints […]
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....