《
#加密市场回调 Tether Issues 1 Billion USDT on Ethereum: Liquidity Feast or Risk Warning?》
$ETH #美联储降息预期 #美财政部比特币战略储备激增 On October 19, 2025, Tether minted 1 billion USDT on the Ethereum network in one go, with a single transaction amounting to 1.003 billion USD.
1. Dual Logic Behind the Increase
1. Inventory Supplement and Strategic Reserves
Tether CEO Paolo Ardoino clearly stated that this minting is an “authorized but unissued” inventory supplement, aimed at addressing potential surges in redemption demand. Historical data shows that Tether often prepares USDT in advance to cope with extreme market conditions, such as a similar operation in November 2024, after which Bitcoin rose 18% within two weeks.
2. Demand Driven by DeFi Ecosystem
Data from the Ethereum chain shows that USDT currently accounts for over 40% of the liquidity pool in stablecoin protocols, with continued rising collateral demand for USDT from leading platforms like Aave and Uniswap. This increase may be preparation for the upcoming Layer 2 expansion (such as the Polygon zkEVM upgrade).
2. Market Impact of Bullish and Bearish Games
• Optimistic View
USDT occupies a 68% share of the stablecoin market, and this increase may boost liquidity for the ETH/USDT trading pair, supporting Ethereum to break through the resistance level of 4,500 USD. Historical data indicates that during the rebound of DeFi TVL to 170 billion USD in the third quarter of 2025, the growth in USDT supply directly contributed to a 3.9% increase.
• Cautious Warning
◦ After issuing 850 million USDT in April 2021, BTC plummeted 40% within two weeks.
◦ In July 2023, continuous issuance of 1.5 billion USDT triggered a correction from 31,000 USD to 25,000 USD. On-chain monitoring shows that the current USDT reserve in exchanges has reached 849 trillion, and if newly minted USDT flows into exchanges, it may exacerbate selling pressure.
$BTC #meme季节即将到来 3. Key Observational Indicators
1. Capital Flow: Net flow change of USDT in exchanges within 72 hours.
2. On-chain Activity: Whether the slippage rate of Uniswap V3 USDT trading pair narrows.
3. Macro Hedging: The linkage effect between US Treasury yields and the US dollar index.
Conclusion: Tether's issuance of 1 billion USDT is like a double-edged sword, potentially serving as a booster for a bull market or a trigger for a liquidity crisis. Investors need to maintain a clear understanding: the essence of stablecoins is as a risk hedging tool, not a price-driving factor.
$DOGE