CandleFocus Tether Mints $1 billion USDT, $20 billion Total Since Nov 6
2024-12-11
Author: Content Editor
Tether, the largest stablecoin issuer, has minted 1 billion USDT on the Ethereum blockchain, bringing the total amount of stablecoins minted on Ethereum and Tron since November 6, 2024, to 20 billion. This news comes after Tether's USDT was approved as an Accepted Virtual Asset by the Financial Services Regulatory Authority in Abu Dhabi. The issuance of stablecoins showcases the sustained demand in the cryptocurrency market and provides traders with a stable asset amidst market volatility. Additionally, Binance and Circle have partnered to promote wider adoption of USD Coin (USDC), aiming to position it as an attractive option for both retail and institutional users.
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