2024

DeFi

Bitcoin

April

<p class="is-style-lead">Tether mints another batch of USDT stablecoins, issuing two billion in two days.</p> 
<p>Lookonchain experts note that Tether, the issuer of the <a href="https://crypto.news/price/tether/">USDT</a> stablecoin, has authorized the issuance of another billion coins on the Tron blockchain.</p> 
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   <p lang="en" dir="ltr">Tether Treasury minted 1B <a href="https://twitter.com/search?q=%24USDT&amp;src=ctag&amp;ref_src=twsrc%5Etfw" target="_blank" rel="noopener">$USDT</a> again 22 hours ago and has minted a total of 2B <a href="https://twitter.com/search?q=%24USDT&amp;src=ctag&amp;ref_src=twsrc%5Etfw" target="_blank" rel="noopener">$USDT</a> in just 2 days.<br><br>Will the price of <a href="https://twitter.com/search?q=%24BTC&amp;src=ctag&amp;ref_src=twsrc%5Etfw" target="_blank" rel="noopener">$BTC</a> rise as before?<a href="https://t.co/buOAbgA9Xc" target="_blank">https://t.co/buOAbgA9Xc</a> <a href="https://t.co/ykHlMbD79r" target="_blank">pic.twitter.com/ykHlMbD79r</a></p>— Lookonchain (@lookonchain) <a href="https://twitter.com/lookonchain/status/1775893991009268107?ref_src=twsrc%5Etfw" target="_blank" rel="noopener">April 4, 2024</a>
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<p>The new release of 1 billion USDT occurred just two days after a similar release on April 2.</p> 
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  <blockquote class="twitter-tweet" data-width="550" data-dnt="true">
   <p lang="en" dir="ltr">Tether Treasury minted 1B <a href="https://twitter.com/search?q=%24USDT&amp;src=ctag&amp;ref_src=twsrc%5Etfw" target="_blank" rel="noopener">$USDT</a> again 2 hours ago.<a href="https://twitter.com/hashtag/TetherTreasury?src=hash&amp;ref_src=twsrc%5Etfw" target="_blank" rel="noopener">#TetherTreasury</a> has minted a total of 6B <a href="https://twitter.com/search?q=%24USDT&amp;src=ctag&amp;ref_src=twsrc%5Etfw" target="_blank" rel="noopener">$USDT</a> in the past month.<br><br>It seems that after every minting, the price of <a href="https://twitter.com/search?q=%24BTC&amp;src=ctag&amp;ref_src=twsrc%5Etfw" target="_blank" rel="noopener">$BTC</a> increases, is it a coincidence?<a href="https://t.co/8NzHewH6Rl" target="_blank">https://t.co/8NzHewH6Rl</a><a href="https://t.co/2wFo2DEvz3" target="_blank">https://t.co/2wFo2DEvz3</a> <a href="https://t.co/D5lEev8MdU" target="_blank">pic.twitter.com/D5lEev8MdU</a></p>— Lookonchain (@lookonchain) <a href="https://twitter.com/lookonchain/status/1775196811843830032?ref_src=twsrc%5Etfw" target="_blank" rel="noopener">April 2, 2024</a>
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<p>At the time of writing, Tether had not commented on the release of the next batch of USDT.</p> 
<p>Current data from <a href="https://crypto.news/tag/CoinMarketCap/" target="_blank" rel="noreferrer noopener">CoinMarketCap</a> shows that USDT has a capitalization of $106.2 billion. The DefiLlama dashboard also shows USDT’s market dominance, which is 69.2% of the total market capitalization of $153.2 billion.</p> 
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 <img loading="lazy" decoding="async" width="1024" height="396" src="https://crypto.news/app/uploads/2024/04/Screenshot-2024-04-04-at-19.01.55-1024x396.png" alt="Tether again mints 1b USDT on Tron network - 19" class="wp-image-14263432">
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  Source: DeFi Llama 
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<p>According to the observations of analysts at <a href="https://crypto.news/tag/CryptoQuant/" target="_blank" rel="noreferrer noopener">CryptoQuant</a>, which traced the correlation between the circulating supply of USDT and the Bitcoin (<a href="https://crypto.news/price/bitcoin/" target="_blank" rel="noreferrer noopener">BTC</a>) rate, since the end of 2022, the circulating supply of USDT <a href="https://cryptoquant.com/insights/quicktake/65b4f22ef25de4305fef00a7-Correlation-between-USDT-circulating-supply-and-Bitcoins-price" target="_blank" rel="noreferrer noopener">has increased</a> by approximately 30 billion. Each increase in supply coincided with the beginning of the rise in the price of the first cryptocurrency.</p> 
<p>Tether is the dominant <a href="https://crypto.news/tag/stablecoin/" target="_blank" rel="noreferrer noopener">stablecoin</a> issuer in the market. However, information on Tether’s reserves remains opaque, raising concerns that the stablecoin could depreciate, substantially negatively impacting the cryptocurrency market. </p> 
<p>Tether faced criticism after a Wall Street Journal investigation <a href="https://crypto.news/tether-companies-allegedly-used-fake-documents-to-access-banking-services/" target="_blank" rel="noreferrer noopener">alleged</a> that its partners used fake documents and shell companies to gain access to the banking system.</p> 
<p> You might also like: <a href="https://crypto.news/tethers-btc-holdings-questioned-in-cryptoquants-whale-analysis/"> Tether’s BTC holdings questioned in CryptoQuant’s whale analysis </a> </p>

Tether again mints 1b USDT on Tron network

crypto.news

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