Tether, the world’s largest stablecoin issuer, minted 1 billion USDT on the Ethereum (ETH) network.
To respond to high volumes and increases in the Tether cryptocurrency market 1 billion USDT More pressed. Reported by on-chain analysis platform Lookonchain to data printing process according to on December 25 It took place on the Ethereum network.
With the last transaction, Tether on Ethereum and TRON (TRX) networks in the last 3 months total 8 billion USDT It has been printed. According to the data, the printed USDTs were sent directly from the Tether treasury to the cryptocurrency exchange Bitfinex.
This move of Tether is a possible threat that may come in January. spot Bitcoin exchange-traded fund (ETF) It was interpreted as preparation for the approval news. If spot Bitcoin ETF approval occurs as soon as thought, the cryptocurrency market may need more stablecoin liquidity.
These transactions are also increasingly on whale appetite and demand environment is thought to have been carried out. While the cryptocurrency market has been experiencing a multibillion-dollar rise recently, it is estimated that Tether has accelerated printing by responding to this demand.
According to CoinGecko data, Tether’s market value reached its all-time high (ATH) after these printing transactions. to $91.5 billion reached.
The company last 1st of December on the TRON and Ethereum network 5 billion USDT He had yet to print it.