CandleFocus Bitcoin Bottom Imminent? $1.2 Billion USDT Just Minted by Tether Treasury
2024-09-20
Author: Content Editor
The Tether Treasury has issued over $1.2 billion of USDT in the last ten hours, leading to speculation about its potential impact on the cryptocurrency market. This series of minting operations, including one on the TRON blockchain, has raised questions about how it could affect the rest of the market. In the past, significant Tether minting events have coincided with market bottoms for Bitcoin, leading some experts to suggest that these recent large-scale minting events could signal a forthcoming market move. Tether, closely associated with Bitfinex, is often used by traders to convert between cryptocurrencies and fiat currencies. The timing and scale of these minting operations are being closely monitored as they could potentially shape short-term cryptocurrency price movements.
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