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<ul class="wp-block-list news-points"> 
 <li>Lookonchain’s data shows Tether minted 3 billion USDT in one week.</li> 
 <li>Tether sent the stablecoins to Kraken, OKX, Coinbase, Binance, and Bullish.com.</li> 
 <li>Traders suspect a potential crypto market rally following Tether’s minting of new tokens.</li> 
</ul> 
Blockchain analytics platform Lookonchain reports that Tether has minted a massive 3 billion USDT in just one week. The distribution of these newly minted stablecoins across major exchanges has fueled speculation about their impact on the crypto market. 
Lookonchain detailed the flow of these USDT tokens using a visual diagram on X (formerly Twitter), highlighting how a significant portion was sent to exchanges like Kraken, OKX, Coinbase, and Binance through Cumberland, a prominent crypto trading firm. 
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter">
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 <blockquote class="twitter-tweet" data-width="550" data-dnt="true">
 Tether(<a href="https://twitter.com/Tether_to?ref_src=twsrc%5Etfw" target="_blank" rel="nofollow">@Tether_to</a>) minted 3B <a href="https://twitter.com/search?q=%24USDT&amp;src=ctag&amp;ref_src=twsrc%5Etfw" target="_blank" rel="nofollow">$USDT</a> in just 1 week! Where did these <a href="https://twitter.com/search?q=%24USDT&amp;src=ctag&amp;ref_src=twsrc%5Etfw" target="_blank" rel="nofollow">$USDT</a> flow to? On-chain data shows that 3.22B <a href="https://twitter.com/search?q=%24USDT&amp;src=ctag&amp;ref_src=twsrc%5Etfw" target="_blank" rel="nofollow">$USDT</a> has flowed from <a href="https://twitter.com/hashtag/TetherTreasury?src=hash&amp;ref_src=twsrc%5Etfw" target="_blank" rel="nofollow">#TetherTreasury</a> to exchanges since Aug 5. Of these, 1.75B <a href="https://twitter.com/search?q=%24USDT&amp;src=ctag&amp;ref_src=twsrc%5Etfw" target="_blank" rel="nofollow">$USDT</a> flowed into <a href="https://twitter.com/hashtag/Kraken?src=hash&amp;ref_src=twsrc%5Etfw" target="_blank" rel="nofollow">#Kraken</a>, <a href="https://twitter.com/hashtag/OKX?src=hash&amp;ref_src=twsrc%5Etfw" target="_blank" rel="nofollow">#OKX</a>, <a href="https://twitter.com/hashtag/Coinbase?src=hash&amp;ref_src=twsrc%5Etfw" target="_blank" rel="nofollow">#Coinbase</a>, <a href="https://twitter.com/hashtag/Binance?src=hash&amp;ref_src=twsrc%5Etfw" target="_blank" rel="nofollow">#Binance</a>, and <a href="https://t.co/pkH43dUMEz" target="_blank" rel="nofollow">https://t.co/pkH43dUMEz</a>… <a href="https://t.co/QZurcSxfxg" target="_blank" rel="nofollow">pic.twitter.com/QZurcSxfxg</a>— Lookonchain (@lookonchain) <a href="https://twitter.com/lookonchain/status/1826079364297142457?ref_src=twsrc%5Etfw" target="_blank" rel="nofollow">August 21, 2024</a>
 </blockquote>
 <script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script> 
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</figure> 
According to Lookonchain’s illustration, Tether sent 1.75 billion of the…
The post <a href="https://coinedition.com/tether-mints-3b-usdt-in-a-week-where-did-it-go/">Tether Mints 3B USDT in a Week: Where Did It Go?</a> appeared first on <a href="https://coinedition.com">Coin Edition</a>.

Tether Mints 3B USDT in a Week: Where Did It Go?

Coin Edition

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