1 Billion USDT Tokens Minted at Tether Treasury

0

The USDT token issued my Tether, which is the top stablecoin by market capitalization, has been on high demand recently.

Yesterday, 250 million USDT Tether tokens were minted at the Tether treasury as reported by Whale Alert tracker on Twitter.

Today 1 billion USDT Tether tokens were minted at the Tether treasury as reported by Whale Alert tracker on Twitter.

However, according to Tether, the newly printed USDT will not affect the total supply of the stablecoin as they announced yesterday on Twitter that it will be used to perform a swap from Tron to ERC20.

What is Tether?

Tether is a stable cryptocurrency stored on the blockchain and its value is tied to the US dollar. The company behind the top stablecoin which is traded under the USDT ticker claims that Tether is backed by FIAT and cryptocurrencies.

Tether market cap at the time of writing is 14,7 billion US dollars according to Coinmarketcap. At the time of the epic bull run of 2017, the stablecoin market cap was around 1 billion Us dollars. Many analysts think that Tether was one of the major players responsible for the massive bull run at the time. If this is true we only can imagine what can be done with the actual 14,7 billion US dollars.

Share.

About Author

Ethan Hunt

Bitcoin Maximalist and Toxic to our banking and monetary system. Separation of money and state is necessary just like the separation of religion and state in the past. Also, pro-local, pro-global and anti-national.

Disclaimer: All content found on thecryptotime.com is only for informational purposes and should not be considered as financial advice. Do your own research before making any investment. Use information at your own risk.

Leave A Reply