Ethereum

Bitcoin

TRON

Billion

<p style="text-align: justify">You can also read this news on BH NEWS: <a href="https://en.bitcoinhaber.net/tether-mints-1-billion-usdt" rel="noopener noreferrer nofollow">Tether Mints 1 Billion USDT</a><br></p>
<p style="text-align: justify">Recent developments in the cryptocurrency <a href="https://finance.coin-turk.com/" rel="noopener noreferrer nofollow" target="_blank">market</a> have witnessed the issuance of a substantial amount of USDT by Tether. Blockchain <a href="https://newslinker.co/" rel="noopener noreferrer nofollow" target="_blank">data</a> shows that on May 16, at 19:50, the Tether Treasury created 1 billion USDT. Given Tether’s influential position within the market, there is speculation that this significant minting could affect market movements.</p>
<h2 id="explanation-by-tether-s-ceo">Explanation by Tether’s CEO</h2>
<p style="text-align: justify">Paolo Ardoino, Tether’s CEO, provided insights into this major issuance. He stated that the 1 billion USDT was minted for the Tron Network and clarified that this was an authorized but unregulated transaction. Ardoino noted, “This amount will be used as stock for future issuance requests and chain swaps.”</p>
<p style="text-align: justify">Previously, the last minting occurred on April 16, amid liquidity concerns. Blockchain analytics platform Lookonchain reported that the Tether Treasury minted 31 billion USDT in the previous year on TRON and Ethereum blockchains. This latest issuance happened when <a href="https://en.bitcoinhaber.net/exploring-high-trading-volumes-in-bitcoin-etfs-more-than-meets-the-eye" rel="noopener noreferrer nofollow">Bitcoin</a>‘s price corrected to the $64,600 range, with each increase in USDT supply generally having a positive effect on Bitcoin’s price since late 2022.</p>
<h2 id="why-is-usdt-supply-important">Why Is USDT Supply Important?</h2>
<p style="text-align: justify">According to data from CryptoQuant, there’s a significant correlation between USDT supply and Bitcoin’s price movements. This correlation leads to increased trading volumes and a dynamic price environment for Bitcoin. Lookonchain’s report also highlighted that USDT minted last year significantly boosted Bitcoin’s price, pushing it from $27,000 to $73,000.</p>
<p style="text-align: justify">However, despite recent speculations, Bitcoin’s price has stabilized between $64,000 and $66,000 over the past 24 hours. Before the release of April’s inflation data, Bitcoin’s price ranged between $60,000 and $62,000. The slowdown in inflation saw Bitcoin’s price rise from $62,000 to $66,000.</p>
<h2 id="user-usable-inferences">User-Usable Inferences</h2>
<p>– Minting 1 billion USDT indicates Tether’s readiness for high demand.<br> – Historical data suggests increased USDT supply can positively impact Bitcoin prices.<br> – Investors could monitor USDT supply changes for potential Bitcoin price trends.<br> – The correlation between USDT and Bitcoin prices may offer trading opportunities.</p>
<p style="text-align: justify">As the cryptocurrency landscape continues to evolve, market participants are keenly observing Tether’s activities and their potential impacts on broader market trends. This latest minting of USDT is expected to play a pivotal role in upcoming market movements.</p>
<h5><span style="font-weight:bold;font-size:16px">The post first appeared on BH NEWS: </span> <a href="https://en.bitcoinhaber.net/tether-mints-1-billion-usdt" rel="noopener noreferrer nofollow">Tether Mints 1 Billion USDT</a></h5>

Tether Mints 1 Billion USDT

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