Shiba

Ethereum

Shiba Inu

Billion

<ul>
 <li>Paolo Ardoino called the recent 1 billion USDT minting an inventory replenishment.</li>
 <li>Over the last year, Tether has steadily released additional USDT stablecoins into circulation.</li>
</ul>
USDT stablecoin issuer <a href="https://thenewscrypto.com/usdt-stablecoin-issuer-tether-plans-real-time-reserve-transparency/" target="_blank" rel="noopener noreferrer nofollow">Tether</a> has been steadily minting new USDT tokens, producing 4 billion USDT during the previous month. Whale Alert revealed that on November 10, Tether released another billion Tether on the Tron network.
According to Whale Alert statistics, the most recent USDT minting occurred only a few days after Tether released another 1 billion USDT on Ethereum on November 9. This follows two separate minting of 2 billion USDT on the Tron blockchain on November 3 and October 19.
<h3 class="wp-block-heading" id="inventory-replenishment">Inventory Replenishment</h3>
Tether’s new chief executive officer and chief technical officer, <a href="https://thenewscrypto.com/usdt-stablecoin-issuer-tether-names-paolo-ardoino-as-new-ceo/" target="_blank" rel="noopener noreferrer nofollow">Paolo Ardoino</a>, made a remark on Twitter over the Whale Alert data, calling the recent 1 billion USDT transaction on the Tron network a “USDT inventory replenish.”
A substantial amount of this year’s total USDT issuance may be attributed to newly issued USDT. According to <a href="https://whale-alert.io/" target="_blank" rel="noopener noreferrer nofollow">Whale Alert’s</a> estimates, Tether was expected to create 22.75 billion USDT in 2023, with 13 billion, or 57%, issued on the Tron network. On the <a href="http://ethereum.org" target="_blank" rel="noopener noreferrer nofollow">Ethereum</a> network, the remaining 9.75 billion USDT were released.
Over the last year, Tether has steadily released additional USDT stablecoins into circulation. According to statistics provided by Whale Alert, in March 2023, Tether minted a massive 9 billion USDT, on top of the 3 billion minted in February. In the middle of summer, the stablecoin issuer minted a large number of USDT, releasing 3.75 billion USDT between June 12 and July 12.
Tether has started burning some of its tokens in addition to aggressively minting new stablecoins. On August 22nd, 1.2 billion USDT were burned by Tether on the Tron network. Earlier this year, in June, the stablecoin issuer burnt 3.1 billion Tron USDT, and in February, they burned 2 billion USDT on Ethereum blockchain, as reported by Whale Alert.
Highlighted Crypto News Today:
<a href="https://thenewscrypto.com/shiba-inu-team-teases-mystery-cover-for-upcoming-magazine-edition/" target="_blank" rel="noopener noreferrer nofollow">Shiba Inu Team Teases Mystery Cover for Upcoming Magazine Edition</a>

Tether Adds Another Billion USDT as Aggressive Minting Continues

Table of Contents

TheNewsCrypto

Other articles published on Nov 13, 2023

Bitcoin Price Rises as Spot Bitcoin ETF Approval Optimism Grows

Will SOL Price Maintain Bullish Movement As Bulls Display Huge Moves?

Bybit Card adds new user bonus amid Binance crypto card closure in EU

Navigating Bull Traps In Financial Markets And Cryptocurrency

Crypto Theft through Fake Skype Application: How Hackers Stole Cryptocurrency

Bitcoin Whales Selling High Amounts of BTC: Investors Should Be Cautious!

Join our free newsletter for daily crypto updates!