Today, the crypto market is experiencing a strong bullish trend, driven by the latest minting activity from Tether Treasury.
According to Lookonchain, Tether Treasury minted another 1 billion USDT on the Tron Network earlier today, adding to the ongoing surge in market enthusiasm.
Over the past year, Tether has minted a staggering 33 billion USDT, with 19 billion USDT minted on the Tron Network and 14 billion USDT on Ethereum. The rapid increase in USDT supply has had a notable impact on market dynamics, often coinciding with upward movements in crypto prices.
Tether’s influence extends beyond Tron and Ethereum. The company has also been actively issuing USDT on Avalanche, which has seen a 10% increase in supply over the past 30 days, ranking second in 30-day change among networks. This expansion highlights Tether’s growing presence across multiple blockchains, reinforcing its pivotal role in the crypto ecosystem.
Tether’s ability to mint large amounts of USDT has led to comparisons with the Federal Reserve’s influence on traditional financial markets. Just as the Fed’s monetary policies can drive market movements, Tether’s USDT minting often sparks bullish sentiment in the crypto market.
This correlation was particularly evident during the latest Bitcoin correction, where Tether’s minting activities seemed to counterbalance the downturn, providing liquidity and bolstering market confidence.
As Tether continues to pump more USDT into the market, investors are keeping a close eye on how this will impact future price movements. With Tether acting as a critical liquidity provider, its actions could play a significant role in shaping the market’s direction in the coming months.
Disclosure: This is not trading or investment advice. Always do your research before buying any cryptocurrency or investing in any services.
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