Tether Prints $1 Billion USDT And PPI Inflation Cools Down
The post Tether Prints $1 Billion USDT And PPI Inflation Cools Down appeared on BitcoinEthereumNews.com.
DISCLAIMER: This article is a SPONSORED Press Release and does not constitute Finbold’s editorial content. Crypto assets/products involve significant risks. Do not invest unless you are prepared to lose your entire investment. For a full disclaimer, please . The next crypto bull run appears to be imminent, with Bitcoin and large-cap altcoins poised to push towards all-time highs. Tether continues to mint USDT, indicating that the crypto market could see substantial buying pressure from whales. Tether minted another $1 billion worth of USDT today. Meanwhile, the weaker-than-expected PPI inflation for July has sparked a broad-based rally in stocks and crypto. The Bitcoin price has rallied by nearly 3% and is attempting to flip the $61k resistance. However, the next crypto bull run will be led by altcoins and meme coins. In fact, smart money investors are already stacking new meme coins such as Crypto All-Stars and Pepe Unchained, hunting for 10x to 100x returns. Tether Mints USDT, PPI Inflation Cools Down As previously mentioned, Tether minting USDT is indicative of buying pressure from whales. Indeed, whales and institutions have been buying the dip. Data from CoinShares reveals that digital asset investment products saw inflows of $176 million last week, with Ethereum products contributing the majority at $155 million. Similarly, the spot Ethereum ETF weekly inflows turned positive for the first time last week, indicating that Grayscale outflows are tapering down and institutions are buying the dip. ETH ETF FLOWS NOW POSITIVE Weekly flows for ETH ETFs turned POSITIVE for the first time ever – with NET 31.5K ETH ($75.07M) purchased last week. Inflows were led by Blackrock – accumulating $168.55M of ETH. The highest daily on-chain inflow for Blackrock was on 7th Aug, where… pic.twitter.com/jTfT0tnO1k — Arkham (@ArkhamIntel) August 13, 2024 This increasing buying pressure could largely be attributed to…
Filed under: News - @ August 14, 2024 9:23 am