Exciting times in the crypto market: Unlimited opportunities ahead
Recently, on-chain data showed that Tether issued a staggering $4 billion in USDT on Ethereum. This exciting development coincided with the surge in Bitcoin prices to new highs, bringing unprecedented vitality to the entire cryptocurrency market. According to Spot On Chain’s monitoring, about 3.44 billion of the 4 billion USDT quickly flowed into major exchanges, of which 1.75 billion went to Binance and 770.8 million went to Coinbase. This series of actions not only reflects the market's strong demand for stablecoins, but also injects a boost into investor sentiment, filling the entire market with expectations and confidence.
Paolo Ardoino, CEO of Tether, emphasized that this issuance is to ensure sufficient supply of USDT and ensure smooth liquidity management. As demand and usage of USDT continue to rise, the appeal of cryptocurrencies becomes even more apparent. To date, the total value of USDT in circulation is close to $120 billion, with a growth rate of 30% since the beginning of the year. This achievement is almost equal to that of all other stablecoins combined, demonstrating Tether's leadership in the market.
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