Responding to the increasing demand, Tether, the world’s largest stablecoin issuer, minted 1 billion USDT on the TRON (TRX) network.
Reported by on-chain analysis platform Lookonchain to data by Tether treasury November 22 day 1 billion USDT More pressed. The company, which has attracted attention with its printing operations in recent months in order to keep up with the increasing appetite in the market, has corporate whale It increased its speed with large purchases.
The corporate whale in question 20 October total from Tether treasury since date 1.13 billion USDT took all of this existence Binance, coinbase And kraken He sent it to cryptocurrency exchanges such as. The whale has a large amount of these assets. Bitcoin (BTC) And altcoin It is thought that he made a purchase.
Tether treasury’s rapid printing of money and this large amount of USDT received by institutional investors are aimed at the cryptocurrency market. increased confidence And appetite It was interpreted as.
Although Tether CEO Paolo Ardoino did not comment on this latest printing process, he said, “Similar 1 billion USDT printings in the previous period.”inventory replenishment He interpreted it as. This means that the company authorized but not exported way USDT is minted and responds to its customers using these assets in case of any demand.
According to CoinGecko data, Tether’s current total supply to 88.5 billion USDT has reached.