Tether minted 2 billion USDT and sent $1 billion to Binance, indicating rising liquidity demand from institutional traders.
Bitcoin’s price recovery to above $119,000 coincides with increased stablecoin movement, fueling further market speculation.
Tether’s total circulation exceeded $160 billion, showing rapid growth and expanded adoption in global digital financial systems.
Tether has minted 2 billion USDT, marking one of the largest token issuances in recent months. According to Arkham Intelligence, a blockchain analytics platform, $1 billion of the newly minted USDT was sent directly to Binance. This transfer highlights growing liquidity needs on the major exchange and points to heightened institutional involvement.
The large minting and transfer of USDT suggest that institutional trading activity is increasing. Binance receiving such a substantial share of the new USDT supports this view. Historically, high-volume USDT inflows into major exchanges often align with growing trading volumes and institutional asset movements. These developments typically occur ahead of significant shifts in the broader market.
Bitcoin Price Rises Above $119K
The minting comes as Bitcoin recently pushed past the $119,000 mark. This rise brings it close to its previous all-time high. The increased availability of USDT on Binance could contribute to further trading momentum. Market activity tends to intensify when stablecoin liquidity rises in parallel with climbing asset prices.
Tether CEO Paolo Ardoino confirmed that USDT now has more than $160 billion in circulation. This milestone reflects the stablecoin’s expanding global footprint. As of August 2024, total circulation stood at approximately $118.4 billion, indicating rapid growth in under a year.
USDT Dominates the Stablecoin Market
According to recent updates, USDT accounts for nearly 80 percent of the total stablecoin market. This dominance positions USDT as a central player in digital asset trading. Ardoino stated that USDT functions as a digital dollar for people in developing economies, where traditional banking options are limited.
The $2 billion mint by Tether and the $1 billion inflow to Binance demonstrate the scale of liquidity entering the market. It signals continued institutional engagement and supports the upward trend in digital asset activity.
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