The post Tether Minted $4B USDT This Week, Total Reaches $19B appeared on BitcoinEthereumNews.com.

Tether’s USDT issuance surged by $19 billion since November 6, including $4 billion minted this week alone. Ethereum gas fees spike as USDT demand grows, raising concerns about scalability and market stability. Tether’s aggressive minting frenzy has dominated the cryptocurrency market, with an amazing $19 billion in USDT released since November 6, including a startling $4 billion created in the last week alone. Along with Bitcoin’s amazing surge to $99,000, a landmark that emphasizes USDT’s function as the liquidity backbone of the digital asset ecosystem, this rapid increase in supply also reflects. However, this large inflow of money comes with several challenges, including concerns about potential threats to market stability and the transparency of Tether’s reserve. 19 BILLION USDT — IS TETHER PLAYING WITH FIRE? Tether’s printing spree hit $19B USDT since November 6—with $4B minted this week alone. BTC trading at $99K makes USDT the liquidity king but raises volatility risk; degens are sweating over Tether’s reserves while demand on… pic.twitter.com/q3QdwAaF9k — Mario Nawfal’s Roundtable (@RoundtableSpace) December 7, 2024 Tether Dominance and Its Ripple Effects on Market Stability Especially in times of increased market activity, USDT’s increasing predominance in crypto trading has solidified its preferred medium of exchange. However, this liquidity dominance draws more attention, especially from market players concerned about Tether’s capacity to keep its 1:1 dollar peg. Complicating these issues, the soaring demand for USDT has put enormous pressure on the Ethereum network, one of the main venues for stablecoin transactions. Ethereum’s gas prices have surged sharply, so USDT transfers become more costly for users. Along with affecting individual traders, this increase in transaction expenses strains the larger ecosystem since Ethereum’s scalability becomes increasingly important during times of high network activity. Tether’s large USDT issuance increases the volatility risk inherent in the crypto market even while it…

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Filed under: News - @ December 8, 2024 7:17 am