This week, over $5 billion in Tether (USDT) was minted and added to the stablecoin’s circulating supply and market cap. A correlation with newly minted USDT and Bitcoin pumping has sent the crypto community into a tailspin.
Today, an automated Twitter account that alerts investors as to when new Tether is minted claimed another $1 billion was added, but that’s not quite the case. Before Bitcoin investors expect another major pump, here’s what really happened and what this actually means for crypto.
Tether Supply and Stablecoins Rapidly Rise Out Of Crypto Bear Market Ashes
Tether, the controversial stablecoin is now the third most dominant cryptocurrency in the entire industry, rising out of the bear market as the one clear winner. No coin has benefitted from the crypto winter as much as the stable flight to crypto safety has.
USDT as a token has several uses. It offers a stable store of wealth, a means of exchange, and a hedge