Tether Issues Massive 1 Billion USDT in New Treasury Supply

05 December, 2024, 03:29 PM

Tether, the issuer of the world's largest stablecoin USDT, has issued 1 billion new USDT from its Treasury address. This is a significant increase in the supply of USDT, which is currently the third largest cryptocurrency by market capitalization. The new USDT issuance was detected by Whale Alert, a service that tracks large cryptocurrency transactions. The transaction occurred on January 20, 2023, and the new USDT was sent to a number of different addresses. The reason for the new USDT issuance is not clear. However, it is possible that Tether is issuing new USDT to meet the growing demand for the stablecoin. USDT is used by a wide range of cryptocurrency users, including traders, investors, and businesses. It is also used as a bridge currency between different cryptocurrencies. The new USDT issuance is likely to have a positive impact on the price of USDT. USDT is currently trading at around $1.00, and the new issuance is likely to help support its price.