Tether, the world’s largest stablecoin issuer, responded to institutional demand in the market and minted 1 billion USDT on the TRON (TRX) network.
Tether took action on November 28 TRON in the network 1 billion USDT pressed. Reported by on-chain analysis platform Lookonchain to data According to the report, shortly after the printing process in question, a familiar whale came out of the Tether treasury. USDT worth $61 million taking this existence to stock exchanges deposited.
same whale 20 October total from Tether treasury since date 1.33 billion USDT and sent them all directly to cryptocurrency exchanges. This whale wallet purchases directly from the Tether treasury. owned by a corporate company It is thought to be because Tether does not allow individual investors to buy from the treasury.
Tether treasury’s rapid money printing and this large amount purchased by institutional investors USDT for the cryptocurrency market increased confidence And appetite It was interpreted as.
According to CoinGecko data, the current total supply of Tether, which ranks third in the cryptocurrency market in terms of volume to 88.8 billion USDT has reached. Tether’s market value 2023 of the year August since month 8% growth noted.