$13 billion Worth Of USDT Minted this Month
Tether to issue an additional 3 billion USDT tokens for trading on the Ethereum and Tron networks on November 23 amid increased trading volume in cryptocurrency markets, especially for Bitcoin, which is getting close to the $100,000 mark.
The USDT was issued on the Ethereum blockchain, and another billion were minted on the Tron network In two consecutive transactions as seen by Arkham Intelligence.
Lookonchain data showed Tether minted roughly 13 billion Lookonchain data showed Tether minted roughly 13 billion USDT since November 8, 2024. since November 8, 2024. The CEO of Tether, Paolo Ardoino, said on November 24 “Tether will need to reach hyper-productivity in 2025 to realize our grand vision.”
Stablecoin volume is a common metric used to assess market interest in cryptocurrencies. A large number of issued stablecoins is seen as a sign that prices are rising, while a low number indicates the opposite.
Traders and investors use Tether’s USDT to access cryptocurrencies and cash out their positions in fiat currency. Thus, a rise in trading activity is fueling the demand for stablecoins. President-elect Trump nominated Howard Lutnick, the CEO of Cantor Fitzgerald and an advocate of cryptocurrencies, to be Secretary of Commerce.
Cantor Fitzgerald announced that it had acquired a 5 percent stake in Tether for over $600 million, days after Lutnick was appointed. Investors and traders can access cryptocurrencies and cash out their positions in fiat money using Tether’s USDT.
President-elect Trump proposed Cantor Fitzgerald CEO and cryptocurrency supporter Howard Lutnick as his nominee for Secretary of Commerce. Cantor Fitzgerald declared that it had purchased a 5 percent stake in Tether for more than $600 million, just days after Lutnick was appointed.
ABOUT THE AUTHOR
See More
Sidebar rates
Add 3442
Related Posts
SaveAdd 3440
Join 350 000+ traders receiving Free Trading Signals
Alerts
Rates
Calendar
Signals