Tether Issues 1 Billion New USDT, Increasing Market Supply
CryptoNewsTerminal Staff20 Aug, 2024
Tether Issues 1 Billion New USDT, Increasing Market Supply
Tether, the company behind the popular stablecoin USDT, has issued 1 billion new tokens. This is according to a recent transaction from Tether Treasury's address, which was detected by the blockchain tracking service Whale Alert. The move increases the total supply of USDT to over 74 billion tokens. The issuance of new USDT has been met with mixed reactions from the cryptocurrency community. Some observers have expressed concerns about the potential impact on the stability of the stablecoin. Others, however, have argued that the move is necessary to meet the growing demand for USDT from investors and traders. It remains to be seen how the market will respond to the issuance of new USDT. However, the move is likely to have a significant impact on the cryptocurrency ecosystem as a whole.
