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Tether has minted another 3 billion dollars in USDT, and the market cap soars above 130 billion dollars. From November 8 to today, Tether has minted about 13 billion dollars of USDT.  Tether (USDT): new mints and the market cap of the stablecoin Tether, the crypto company behind the world’s largest stablecoin, minted another 3 billion dollars of USDT on November 23, on the Ethereum and Tron networks.  In practice, according to the data reported by Lookonchain, Tether would have minted about 13 billion dollars of USDT since November 8, 2024.  Here too, such numbers can be a consequence of the Trump effect, given that just two days before the new mints of USDT, he won the 2024 USA presidential elections.  In any case, while the crypto rally is underway, the market cap of USDT has also started to soar. At the time of writing, the market cap of USDT is over 132 billion dollars. The CEO of Tether, Paolo Ardoino, shares the recently achieved milestone on X:  Tether (USDT): the growth and expansion of the largest stablecoin Tether has minted significant amounts of USDT precisely to manage to respond to the euphoria of the crypto market, driven by Bitcoin (BTC) which is getting closer and closer to its target of $100,000.  At the time of writing, BTC is worth $98,337 but, on November 22, Bitcoin saw its ATH at the price of $99,600.  Paolo Ardoino described in a sentence what the mood of the crypto society will be towards the increase in volumes of the crypto market for 2025: “In 2025, Tether will need to achieve hyperproductivity to realize our grand vision”. Basically, investors and traders use stablecoins, like USDT, as an entry point to purchase cryptocurrencies and an exit point to cash out their positions, so the increase…

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Filed under: News - @ November 25, 2024 8:21 am