Ethereum

Bitcoin

Impact

Billion

<p style="text-align: justify">You can also read this news on COINTURK NEWS: <a href="https://en.coin-turk.com/bitcoin-reaches-new-annual-high-as-tether-prints-1-billion-usdt/" data-wpel-link="internal">Bitcoin Reaches New Annual High as Tether Prints 1 Billion USDT</a><br></p>
<p style="text-align: justify"><strong><a href="https://coin-turk.com/analiste-gore-bu-fiyat-seviyeleri-kritik-bitcoin-btc-adina-siradaki-yon-neresi-olacak" data-wpel-link="internal">Bitcoin</a> (<a href="https://coin-turk.com/3-gelisme-bitcoini-onumuzdeki-aylarda-15-000-dolara-tasiyabilir" data-wpel-link="internal">BTC</a>)</strong> surpassed the $64,000 level, reaching $64,268 and setting a new annual record. This increase coincides with the <a href="https://en.coin-turk.com/tether-faces-new-fud-and-cto-speaks-out-the-impact-of-recent-email/" data-wpel-link="internal">Tether</a> Treasury creating 1 billion <a href="https://coin-turk.com/yakinda-tether-kripto-paralari-alt-ust-edebilir-buyuk-dusus-kapida-mi" data-wpel-link="internal">USDT</a>. The move sparked widespread speculation and intense interest in the cryptocurrency sector.</p> 
<h2 id="the-impact-of-usdt-on-bitcoin">The Impact of USDT on Bitcoin</h2> 
<p style="text-align: justify">Whale Alert, a blockchain analysis platform, reported the creation of <strong>USDT</strong> on Sunday. As a result, it sparked a discussion about the potential effects on <a href="https://en.coin-turk.com/silkroad-linked-btc-causes-minor-dip-in-crypto-markets/" data-wpel-link="internal">Bitcoin</a>‘s price. Historical data suggests a correlation between Tether’s minting actions and significant increases in Bitcoin’s value.</p> 
<p style="text-align: justify">In January, Tether issued 2 billion USDT over ten days, coinciding with a notable increase in Bitcoin’s price, also fueled by expectations of a spot Bitcoin exchange-traded fund <strong>(ETF)</strong>. This trend led some to speculate about future Bitcoin price volatility.</p> 
<p><img loading="lazy" loading="lazy" decoding="async" class="size-full wp-image-322564 aligncenter" src="https://coin-turk.com/wp-content/uploads/2024/03/tether.webp" alt="" width="850" height="289"></p> 
<h2 id="expert-opinion-on-bitcoin">Expert Opinion on Bitcoin</h2> 
<p style="text-align: justify">Amid market speculation, Tether CEO Paolo Ardoino provided clarity. He explained that the 1 billion <strong>USDT</strong> was allocated not for immediate market impact but for future issuance demands and chain swaps. The senior analyst stated the following:</p> 
<blockquote> 
 <p style="text-align: justify">One billion USDT inventory was replenished on the <a href="https://en.coin-turk.com/the-awakening-of-a-sleeping-giant-ethereum-whale-resurfaces/" data-wpel-link="internal">Ethereum</a> network. Remember, this is an authorized but unregulated transaction, meaning this amount will be used as inventory for future issuance demands and chain swaps.</p> 
</blockquote> 
<p style="text-align: justify">Ardoino’s statement highlights the operational complexities of blockchain technology. It shows how cryptocurrency units can move across multiple blockchains to meet market demands and increase liquidity. Tether is on the verge of reaching a market value of 100 billion dollars. With over 70% market share according to DefiLlama, Tether’s dominance in the stablecoin market is clear. Consequently, the speculation linked to Tether’s creation of 1 billion USDT following Bitcoin’s record-breaking rise and the 2 billion USDT issued in January has sparked intense interest in the cryptocurrency market. Tether CEO’s statements emphasize the stablecoin market’s dominance and the operational complexities of blockchain technology.</p> 
<h5><span style="font-weight:bold;font-size:16px">The post first appeared on COINTURK NEWS: </span> <a href="https://en.coin-turk.com/bitcoin-reaches-new-annual-high-as-tether-prints-1-billion-usdt/" data-wpel-link="internal">Bitcoin Reaches New Annual High as Tether Prints 1 Billion USDT</a></h5>

Bitcoin Reaches New Annual High as Tether Prints 1 Billion USDT

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