Bitcoin breaks $ 9,000 and Tether prints another $ 60 million USDT
Tether Treasury wallet minted another $ 60 million USDT.
The reaction to the next issue was negative, many called for an investigation.
Tether (USDT) Total Market Cap Reaches Huge $ 7.6 Billion.
International consortium of news organizations developing transparency standards.
Tether Treasury continues to ramp up its USDT output. Today the wallet has printed another 60 million USDT, which will soon enter the market.
New day, new portion of USDT. For the past two months, Tether Treasury has been printing USDT almost every day, and yesterday is no exception..
Another 60 million USDT
According to Whale Alert (@whale_alert), another 60 million USDT were issued yesterday. This message caused a great stir in the cryptocurrency space..
Basically, the reaction to the new portion of USDT was negative. Many have compared Tether Treasury to the Fed, remembering the sensational meme – money printer go BRRR.
The issue of Tether is getting more and more criticism. A few months ago, each new batch was perceived as a bullish signal, but now the issuance of coins is accompanied by ridicule and calls for investigation..
Tether Treasury Reserves Reach $ 7.8 Billion USDT
According to Tether’s own transparency report, total assets currently stand at about $ 7.6 billion. Tether hit the $ 7 billion mark just 10 days ago. USDT stocks are increasing at an unprecedented rate. On April 21, BeInCrypto reported that $ 1 billion worth of coins had been issued in the previous 25 days.
The printing of the new USDT tokens is allegedly due to the fact that the demand for stablecoins backed by the dollar has reached record levels. But it seems that only Tether is issuing coins at this rate. There are many explanations for the growth in stablecoin volume over the past two months..
Perhaps today the Tether project has become “too big to fail,” and therefore the company is not paying attention to criticism. Contrary to usual, Bitcoin reacted sluggishly to the USDT issue; in the past, he would have jumped on such news. It turns out that the correlation between USDT and BTC has weakened. However, Bitcoin is up sharply today and is currently trading above $ 8,300..
What do you think is the reason for the increase in USDT emission. Are there manipulations? Share your opinion in the comments.
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