CandleFocus Tether Mints 1B USDT on Tron, as Market Demand Spikes
2024-10-30
Author: Content Editor
Tether, the leading stablecoin issuer, has minted 1 billion USDT on the Tron network, leading to speculation of higher prices due to increased demand. Tether's CEO confirmed the transaction, stating that the minted USDT would be used as inventory for future issuance requests and chain swaps. The Tron network now holds over half of the entire USDT in circulation, making it a significant player in Tether's stablecoin market. This latest minting has sparked optimism among the crypto community, with expectations of higher prices for Bitcoin and altcoins. Historically, stablecoin minting and deployment have signaled increased demand and led to higher market prices.
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