News

Tether Treasury Mints $1B USDT On Ethereum Ahead Of Anticipated FED Rate Cut

Approximately three hours ago, the Tether Treasury minted 1 billion USDT on the Ethereum network.

This minting activity comes just before the highly anticipated Federal Reserve interest rate cut, scheduled for September 17-18.

Over the past year, the Tether Treasury has issued a staggering 35 billion USDT, playing a key role in Bitcoin’s price surge from $26.6K to over $73K in March.

Historically, large USDT mintings have been linked to Bitcoin price increases or periods of price stabilization.

Massie Capital Inflows In The Stablecoin 

Between September 9 and 14, 2024, the stablecoin market saw significant capital inflows, which may once again influence Bitcoin’s price. Here’s a breakdown of the latest stablecoin market capitalization growth:

– USDT Market Capitalization Growth: Net increase of $410 million.
– USDC Market Capitalization Growth: Net increase of $743 million.
– Total Stablecoin Capitalization (USDT + USDC): Combined net increase of $1.153 billion.

Related Post

Since September 9, the combined market cap growth of USDT and USDC reflects a steady inflow of capital into the crypto space. While these inflows are smaller compared to the previous week’s more robust figures, they still suggest fresh capital entering the market, which could support Bitcoin price movements in the coming days.

With the upcoming FED rate decision, many market observers will be watching closely to see if this capital injection will once again lead to Bitcoin price appreciation, in line with past trends following large USDT mintings.

Disclosure: This is not trading or investment advice. Always do your research before buying any cryptocurrency or investing in any services.

Follow us on Twitter @themerklehash to stay updated with the latest Crypto, NFT, AI, Cybersecurity, and Metaverse news!

Image Source: aleksandrasova/123RF // Image Effects by Colorcinch

Will Izuchukwu

Will is a News/Content Writer and SEO Expert with years of active experience. He has a good history of writing credible articles and trending topics ranging from News Articles to Constructive Writings all around the Cryptocurrency and Blockchain Industry.

Share
Published by
Will Izuchukwu

Recent Posts

OKX Wallet Sees Whales Massive Moves; More on Plus Wallet & Coinbase  

Plus Wallet Impresses with its Speedy 15-Min Token Listings While Coinbase Unveils AI Tool &…

6 hours ago

100% Bonus with BlockDAG! Ethereum Eyes Breakout, Sui Plans To Expand

BlockDAG Rolls Out Limited Time 100% Bonus For Community While Ethereum Price Looks Bullish &…

7 hours ago

Best Crypto Wallets 2024: Top Choices for Security & Rewards

The 5 Best Crypto Wallets Worth Using in 2024 — Find Out Why Selecting a…

8 hours ago

Ethereum Ecosystem Primed For A November Rally – ETH Coins Chainlink (LINK), Toncoin (TON), And Cutoshi (CUTO) The Ones To Watch

With a Total Value Locked (TVL) of $50.72B, Ethereum is the world's largest blockchain, with…

15 hours ago

Analysts Predict a Rollblock 5000% Surge Dwarfing Pepe Coin and Popcat Recent Fame

The meme coin market has recently been surging once again; tokens such as Pepe and…

1 day ago

FLOKI Dominates Meme Market as Rollblock ICO Skyrockets. Is Polkadot Losing Its Edge?

The FLOKI price has recorded over 300% yearly ROI, dominating crypto gains in the meme…

1 day ago