Tether Mints $2 Billion USDT, Stablecoin Market At A Crossroads
The post Tether Mints $2 Billion USDT, Stablecoin Market At A Crossroads appeared on BitcoinEthereumNews.com.
Tether has minted another $2 billion USDT on Ethereum, adding to the $19 billion minted since November 6 across Ethereum and Tron. Over the past four days alone, $4 billion USDT has been issued, fueling liquidity on various exchanges. This surge coincides with Bitcoin surpassing the $100K mark twice during the same period. Tether minted 2B $USDT on Ethereum again 6 hours ago! Since November 6, Tether has minted a total of 19B $USDT on Ethereum and Tron, consistently funneling funds into various exchanges. Notably, 4B $USDT was minted in just the past 4 days. During this period, the $BTC price has… https://t.co/NOYU0zNnkn pic.twitter.com/3XPZ5soQvK — Spot On Chain (@spotonchain) December 7, 2024 Currently, USDT is driving 60% of trading on ETH pairs, solidifying its role as a key player in Bitcoin liquidity. The increase in stablecoin supply directly impacts demand, boosting BTC trading pairs and contributing to Coinbase premiums. Stablecoins like USDT are no longer just numbers on a blockchain; they serve as the market’s pulse, reflecting investor activity and liquidity. USDT minting is up 60% on $ETH pairs, dominating Bitcoin liquidity. More stablecoins = more demand, driving $BTC trading pairs and Coinbase premiums. Stablecoin supply isn’t just numbers—it’s the market’s pulse. Pay attention. 💡 pic.twitter.com/PehU2KcyzP — Kyledoops (@kyledoops) December 7, 2024 While USDT maintains its dominance, the stablecoin market is undergoing significant changes. As Europe tightens crypto regulations and pro-crypto politicians gain influence in the U.S., the focus is shifting beyond USD-backed tokens. Regional stablecoins such as Brazil’s cREAL and the CFA franc are gaining momentum, providing alternatives to the dollar. . STABLECOIN REVOLUTION ON THE HORIZON AS USD FACES COMPETITION The stablecoin market is on the brink of a revolution. As Europe’s crypto regulations tighten and pro-crypto U.S. politicians rise, the focus is shifting beyond the dominance of…
Filed under: News - @ December 9, 2024 8:22 am