Rally

Cryptocurrency

Bitcoin

TRON

Billion

<p>Liquidity seems to be entering back into the crypto market as the bitcoin price pumped all the way to $67,000 amid the cooling down of the <a href="https://coingape.com/bitcoin-remains-steady-us-cooling-cpi-inflation-data-what-next/" target="_blank" rel="noopener">US CPI data</a>. There’s been a strong stablecoin influx at the crypto exchanges in recent times. This could probably serve as a strong catalyst for the crypto market rally ahead.</p> 
<h3 id="tether-mints-1-billion-usdt">Tether Mints $1 Billion USDT</h3> 
<p>According to data from Lookonchain, the Tether Treasury recently minted an additional $1 billion worth of USDT tokens, with the latest minting occurring 13 hours ago. Over the last month, Tether has minted an additional $3 billion in USDT with its market cap soaring from $108 billion, to now over $111 billion.</p> 
<p>The Tether Treasury has now minted a total of 31 billion USDT tokens on the TRON and Ethereum blockchains over the past year. These newly minted USDT tokens have played a significant role in influencing the price of Bitcoin (BTC), contributing to its surge from $27,000 to $73,000.</p> 
<blockquote class="twitter-tweet"> 
 <p dir="ltr" lang="en">Tether Treasury minted 1B <a rel="nofollow" href="https://twitter.com/search?q=%24USDT&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$USDT</a> again 13 hours ago.<a rel="nofollow" href="https://twitter.com/hashtag/TetherTreasury?src=hash&amp;ref_src=twsrc%5Etfw">#TetherTreasury</a> has minted a total of 31B <a rel="nofollow" href="https://twitter.com/search?q=%24USDT&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$USDT</a> on <a rel="nofollow" href="https://twitter.com/hashtag/TRON?src=hash&amp;ref_src=twsrc%5Etfw">#TRON</a> and <a rel="nofollow" href="https://twitter.com/hashtag/Ethereum?src=hash&amp;ref_src=twsrc%5Etfw">#Ethereum</a> in the past year.</p> 
 <p>These minted <a rel="nofollow" href="https://twitter.com/search?q=%24USDT&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$USDT</a> drove the price of <a rel="nofollow" href="https://twitter.com/search?q=%24BTC&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$BTC</a> from $27K to $73K.<a rel="nofollow" href="https://t.co/2wFo2DEvz3">https://t.co/2wFo2DEvz3</a> <a rel="nofollow" href="https://t.co/IxEpBN36C0">pic.twitter.com/IxEpBN36C0</a></p> 
 <p>— Lookonchain (@lookonchain) <a rel="nofollow" href="https://twitter.com/lookonchain/status/1791350139451478418?ref_src=twsrc%5Etfw">May 17, 2024</a></p>
</blockquote> 
<p><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></p> 
<p>Thus, the boost in stablecoin liquidity can trigger another fresh rally in Bitcoin, and the broader cryptocurrency market.</p> 
<p>According to <a rel="nofollow" href="https://cryptoquant.com/insights/quicktake/6645a913f3cac64b853a133c-Incoming-Liquidity-Surge-Bitcoin-Poised-for-Major-Bull-Run" target="_blank">CryptoQuant</a>, a recent surge in stablecoin inflows has been observed, indicating a notable increase in liquidity entering the cryptocurrency market. The influx of liquidity has the potential to influence the supply and demand dynamics of Bitcoin, potentially leading to heightened price volatility in the market.</p> 
<figure id="attachment_197442" aria-describedby="caption-attachment-197442" style="width: 100%" class="wp-caption aligncenter">
 <img decoding="async" class="size-full wp-image-197442" src="https://coingape.com/wp-content/uploads/2024/05/Bitcoin-stablecoin-liquidity.jpg" alt="" width="1280" height="606" srcset="https://coingape.com/wp-content/uploads/2024/05/Bitcoin-stablecoin-liquidity.jpg 1280w, https://coingape.com/wp-content/uploads/2024/05/Bitcoin-stablecoin-liquidity-300x142.jpg 300w, https://coingape.com/wp-content/uploads/2024/05/Bitcoin-stablecoin-liquidity-1224x579.jpg 1224w, https://coingape.com/wp-content/uploads/2024/05/Bitcoin-stablecoin-liquidity-768x364.jpg 768w, https://coingape.com/wp-content/uploads/2024/05/Bitcoin-stablecoin-liquidity-150x71.jpg 150w" sizes="(max-width: 1280px) 100vw, 1280px">
 <figcaption id="caption-attachment-197442" class="wp-caption-text">
  Courtesy: CryptoQuant
 </figcaption>
</figure> 
<h3 id="bitcoin-liquidity-cycle-still-at-lower-end">Bitcoin Liquidity Cycle Still At Lower End</h3> 
<p>Cryptocurrency market analyst Willy Woo has provided insights into Bitcoin’s current liquidity cycle, describing it as akin to a warm-up phase.</p> 
<p>According to Woo, Bitcoin is presently consolidating below its all-time highs, with indicators suggesting a relatively low long-term risk during this period. He emphasizes that the risk factor typically increases when significant market activity occurs, implying that the current phase remains relatively stable.</p> 
<blockquote class="twitter-tweet"> 
 <p dir="ltr" lang="en">Here’s the bigger picture of where <a rel="nofollow" href="https://twitter.com/hashtag/Bitcoin?src=hash&amp;ref_src=twsrc%5Etfw">#Bitcoin</a> is in its liquidity cycle… it’s still doing warm up exercises.</p> 
 <p>It’s consolidating under all time highs, during this time long time frame risk signal is quite low. Risk only starts climbing after the floodgates open. <a rel="nofollow" href="https://t.co/dN35qGoWZs">pic.twitter.com/dN35qGoWZs</a></p> 
 <p>— Willy Woo (@woonomic) <a rel="nofollow" href="https://twitter.com/woonomic/status/1791402788070810020?ref_src=twsrc%5Etfw">May 17, 2024</a></p>
</blockquote> 
<p><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></p> 
<p>The post <a href="https://coingape.com/tether-pumps-liquidity-with-1-billion-usdt-mints-in-12-hours-crypto-market-rally-soon/">Tether Pumps Liquidity With $1 Billion USDT Mints in 12 Hours, Crypto Market Rally Soon?</a> appeared first on <a href="https://coingape.com">CoinGape</a>.</p>

Tether Pumps Liquidity With $1 Billion USDT Mints in 12 Hours, Crypto Market Rally Soon?

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