CandleFocus Tether on track to expand to 140B tokens after minting another billion USDT
2024-12-12
Author: Content Editor
In the past five weeks, Tether has minted $21 billion in USDT tokens, with most of the mints occurring on the Ethereum network. Tether continues to expand its supply and is on track to surpass 140 billion tokens. The latest mint of 1 billion USDT tokens was sent to the Tether treasury and will eventually be deployed to exchanges, boosting liquidity. Tether is also aiming to position itself as a fintech-adjacent company and has partnered with Stripe to allow USDT deposits in multiple countries. The active minting of USDT coincides with Bitcoin price recoveries, and the rapid series of mints have raised questions about the sustainability of the BTC rally. Despite the increased supply, the turnover of USDT is high, surpassing that of USDC. Stablecoins, including USDT, have grown in influence as a payment tool and currently have a total supply of over 194.8 billion tokens.
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