AWED ALHATTANI
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Bullish
Minting USDT worth 1 billion dollars fuels optimism for a bullish round
Tether minted 1 billion USDT on the Tron network today, bringing the total tokens issued since January to 12 billion. This reflects the growing demand for cryptocurrencies and may indicate optimism.
Tether's main minting of USDT
Tether, the largest stablecoin network in the world, has been continuously minting USDT tokens over the past few months. It minted 19 billion during a period between November and December of last year and added another billion less than a week later.
Today, Tether's new work on Tron may have a strong impact on the market.
This new minting of USDT could have wide-ranging implications for the market for several reasons. Major net issuances often reflect the increasing demand from institutions and over-the-counter trading desks that need large blocks of stablecoins for cross-border settlements or building before purchasing digital assets.
For example, when it issued 1 billion USDT just over a year ago, it caused the price of Bitcoin to rise.
Previously, major stablecoin issuances led to a bullish cycle. With new inflows, market sentiment is turning towards greed, and Tether may facilitate further optimism.
Tether minted 1 billion USDT on the Tron network today, bringing the total tokens issued since January to 12 billion. This reflects the growing demand for cryptocurrencies and may indicate optimism.
Tether's main minting of USDT
Tether, the largest stablecoin network in the world, has been continuously minting USDT tokens over the past few months. It minted 19 billion during a period between November and December of last year and added another billion less than a week later.
Today, Tether's new work on Tron may have a strong impact on the market.
This new minting of USDT could have wide-ranging implications for the market for several reasons. Major net issuances often reflect the increasing demand from institutions and over-the-counter trading desks that need large blocks of stablecoins for cross-border settlements or building before purchasing digital assets.
For example, when it issued 1 billion USDT just over a year ago, it caused the price of Bitcoin to rise.
Previously, major stablecoin issuances led to a bullish cycle. With new inflows, market sentiment is turning towards greed, and Tether may facilitate further optimism.
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