Tether, trying to keep up with the demand created by the rise in the cryptocurrency market, has printed a large amount of USDT in the last month.
The cryptocurrency market is especially in a 1 month period increased significantly. In parallel with this rise, the stablecoin supply in the market also increased. The largest cryptocurrency market stablecoin issuer Tether, in response to increasing demand 4 billion USDT in 1 month pressed.
This amount of 4 billion printed is approximately the amount of all USDT printed so far in 2023. 18% created. Experts say that increasing USDT printing is a high price in the market. with appetite and rises He stated that it was directly related.
Tether CEO Paolo Ardoino He published about the issue on social media in the statement, stated that the transaction represented an inventory replenishment, meaning it was authorized but not issued. The CEO stated that minted USDTs will be kept in inventory for future issuance requests and network swaps:
Note that this is an authorized but not issued transaction, meaning this amount will be used as inventory for future issuance requests and chain swaps.
According to CoinGecko data, Tether’s total market value to 87 billion dollars has reached.