Tether Mints Over $33 Billion in USDT Across Tron and Ethereum
Blockchain data reveals that Tether, the company behind the stablecoin USDT, has created over $33 billion worth of USDT in the past year.
According to recent data , this massive amount of USDT was issued across both the Tron ( TRX ) and Ethereum ( ETH ) networks.
“Tether Treasury minted another 1 billion USDT on the Tron Network! In total, Tether has minted 33 billion USDT in the last year, with 19 billion on Tron and 14 billion on Ethereum,” the firm reported yesterday.
Crypto analyst Ali Martinez highlighted a notable connection between Bitcoin’s price movements and the minting of new USDT. “Tether acts like the crypto world’s central bank. Every time more USDT is produced, the market tends to rise. During the latest Bitcoin dip, those USDT printers were running non-stop!” he said.
Additionally, Tether recently announced that USDT will soon be available on Aptos (APT), a blockchain designed for speed and scalability. Aptos, which uses a Proof-of-Stake (PoS) consensus mechanism, processes transactions in parallel to improve efficiency. Tether also noted that transaction fees on Aptos will be less than a penny.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
Gold drifts lower below $4,450 as hawkish Warsh remarks lift Fed hike bets
US Stocks Weekly Macro Preview (Aug 31–Sep 4)
"The US does whatever it wants"! At the Jackson Hole Symposium, the ECB grows increasingly uneasy about the stability of US-EU financial cooperation
According to multiple informed sources, after exchanging views with their U.S. counterparts at the annual central bank meeting, European Central Bank officials were far from reassured. They are concerned that the longstanding conventions of global cooperation have been disrupted, and worry that the already tense relationship between the U.S. and Europe may face further challenges in the future.
The tightening storm strikes again! Société Générale warns that the Federal Reserve may raise interest rates three times before March next year
Société Générale expects the Federal Reserve to start raising interest rates in September, as persistent inflation and an improving labor market are pushing policymakers toward a more hawkish stance.
Crypto prices
More
