Bitcoin

<ul class="news-points">
 <li><strong>Increased USDT issuance signals growing confidence in the crypto market.</strong></li>
 <li><strong>Tether minted $1 billion in USDT, but clarifies it’s for chain swaps, not circulation.</strong></li>
 <li><strong>Historically, increased USDT supply has correlated with Bitcoin price rises.</strong></li>
</ul>
<p>According to crypto insights provider Matrixport, new USDT issuance has slowed since mid-April but has recently begun to rise again. This uptick, as suggested in a post on X (formerly Twitter), indicates a bullish trend for the cryptocurrency market, with funds potentially shifting from traditional financial markets to crypto.&nbsp;</p>
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter">
 <div class="wp-block-embed__wrapper">
  <blockquote class="twitter-tweet" data-width="550" data-dnt="true">
   <p lang="en" dir="ltr"><a href="https://twitter.com/hashtag/Matrixport?src=hash&amp;ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">#Matrixport</a> <img src="https://s.w.org/images/core/emoji/15.0.3/72x72/1f4c8.png" alt="📈" class="wp-smiley" style="height: 1em; max-height: 1em;">Today-Jul 22: Fiat to <a href="https://twitter.com/hashtag/Crypto?src=hash&amp;ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">#Crypto</a> Inflows Resuming<img src="https://s.w.org/images/core/emoji/15.0.3/72x72/1f199.png" alt="🆙" class="wp-smiley" style="height: 1em; max-height: 1em;"> – This is Bullish<img src="https://s.w.org/images/core/emoji/15.0.3/72x72/1f402.png" alt="🐂" class="wp-smiley" style="height: 1em; max-height: 1em;"><a href="https://twitter.com/hashtag/cryptocurrency?src=hash&amp;ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">#cryptocurrency</a> <a href="https://twitter.com/hashtag/Crypto?src=hash&amp;ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">#Crypto</a> <a href="https://twitter.com/hashtag/BTC?src=hash&amp;ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">#BTC</a> <a href="https://twitter.com/hashtag/USDT?src=hash&amp;ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">#USDT</a> <a href="https://t.co/tSF0FojkRG" target="_blank" rel="noopener noreferrer nofollow">pic.twitter.com/tSF0FojkRG</a></p>— Matrixport Official English (@Matrixport_EN) <a href="https://twitter.com/Matrixport_EN/status/1815282397719765122?ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">July 22, 2024</a>
  </blockquote>
  <script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
 </div>
</figure>
<p>On July 15th, Whale Alert reported that stablecoin issuer Tether (USDT) <a href="https://x.com/whale_alert/status/1814425263180038632" target="_blank" rel="noopener noreferrer nofollow">minted $1 billion</a> worth of USDT. This move initially sparked speculation of a bull market, but Tether CEO Paolo Ardoino clarified that the USDT was created as inventory for chain swaps, not for immediate circulation.</p>
<p>Nonetheless, the issuance of USDT often signals a “risk-on” attitude among investors, who favor riskier assets like…</p>
<p>The post <a href="https://coinedition.com/usdt-supply-increase-and-bitcoin-price-is-there-a-correlation/" rel="noopener noreferrer nofollow">USDT Supply Increase and Bitcoin Price: Is There a Correlation?</a> appeared first on <a href="https://coinedition.com" rel="noopener noreferrer nofollow">Coin Edition</a>.</p>

USDT Supply Increase and Bitcoin Price: Is There a Correlation?

Coin Edition

Other articles published on Jul 22, 2024

Bernstein Claims Cryptocurrency Market Isn’t “Pricing In” Donald Trump, Reveals Details

Larry Fink vs. Jamie Dimon: Donald Trump’s Pick for US Treasury Secretary

Binance Lists Banana Gun Token

SEC Approves Spot ETH ETF for Trading

New Meme Coins That Could Be the Next to List on Binance

How To Make 55x On New Crypto's - LAST CHANCE !!!

Join our free newsletter for daily crypto updates!