COINTURK NEWSCOINTURK NEWSCOINTURK NEWS
  • Real-Time News Feed
  • Bitcoin
  • Altcoin
  • Ethereum
  • Technology News
  • Advertise
  • Contact
  • TURTURTUR
  • ESESES
Search
© 2024 COINTURK NEWS. All Rights Reserved.
Reading: Tether Treasury Prints 1 Billion USDT
Share
Languages
  • TürkçeTürkçe
  • EspañolEspañol
Font ResizerAa
COINTURK NEWSCOINTURK NEWS
Font ResizerAa
Search
  • Real-Time News Feed
  • Bitcoin
  • Altcoin
  • Ethereum
  • Technology News
  • Advertise
  • Contact
  • TURTURTUR
  • ESESES
Follow US
© 2025 BLOCKCHAIN Information Technologies. >> COINTURK NEWS
Powered by LK SOFTWARE
COINTURK NEWS > Tether (USDT) > Tether Treasury Prints 1 Billion USDT
Tether (USDT)

Tether Treasury Prints 1 Billion USDT

In Brief

  • Whale Alert tracks a massive 1 billion USDT print by Tether Treasury.

  • Tether's print coincides with Bitcoin's struggle to break the $53,000 level.

  • USDT increase is for future issuance demands and chain swaps, not immediate release.

COINTURK NEWS
COINTURK NEWS 1 year ago
Share
SHARE

According to data provided by Whale Alert, which tracks whale transactions and large transfers on the blockchain, Tether Treasury has recently minted 1 billion USDT. This action took place during a period when the price of Bitcoin, which sits unquestionably at the top of the market cap rankings, experienced fluctuations.

Contents
Why Was Tether Minted?Current Bitcoin Situation

Why Was Tether Minted?

While Bitcoin’s price has been fluctuating between $51,000 and $53,000 lately, today’s attempt to surpass the $53,000 resistance level by the bulls was unsuccessful. During this period, Tether minted new currency, and Tether CEO Paolo Ardoino made a statement at X explaining the reason behind the creation of 1 billion dollars’ worth of USDT.

According to Ardoino’s explanation, the minting of 1 billion USDT is merely an inventory refresh on the Ethereum Network and is described as an “authorized but not issued transaction.”

Interpreting the statement, the newly minted USDTs will not be immediately released into the market. Instead, they will be held as inventory for future issuance requests and chain swaps.

Looking at Tether’s minting operation, it becomes evident once again how much the demand for USDT, which plays a crucial role in the liquidity of the cryptocurrency market, has increased.

Current Bitcoin Situation

While there are contradictions regarding Bitcoin’s price, the large-scale minting of USDT did not impact BTC. The price of BTC has been trying to reach the $53,000 level for days but has not succeeded. This evening, it encountered strong resistance at the critical $53,000 level and failed to break through.

Following the near breakthrough to $53,000, Bitcoin’s price experienced a sharp pullback, dropping to $50,700.

The substantial minting of USDT by Tether has led to expectations of increased liquidity and potential price movements, according to some market analysts looking back at the past.

The logic behind these analysts’ perspective is that an increase in the supply of USDT could impact Bitcoin’s affordability, which in turn could influence Bitcoin’s price dynamics.

Amidst all these developments, Bitcoin’s price has once again risen above the $52,000 level and is trading at $52,052 at the time of writing.

You can follow our news on Telegram, Facebook, Twitter & Coinmarketcap
Disclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that cryptocurrencies carry high volatility and therefore risk, and should conduct their own research.

You Might Also Like

Russia’s Central Bank Ostracizes Tether with New Guidelines

Tether Faces Criticism Over Financial Practices and Stability

Tether AI Pioneers Open Source Blockchain-Based Payment Integration

Tether Achieves Record Financial Gains with Strategic Investments

Tether Dominates Q1 2025 with Record Profits and Treasury Investments

COINTURK NEWS 21 February, 2024 - 2:42 am 21 February, 2024 - 2:42 am
Share This Article
Facebook Twitter
Share
Previous Article Experts Predict Bullish Future for Cardano (ADA) with Price Consolidation
Next Article Bitcoin Market Dynamics and Futures Trading Insights
Leave a comment

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Stay Connected

8.1k Like
21.1k Follow
1.1k Follow

Latest News

Twenty One Capital Expands Bitcoin Holdings with $100 Million Boost
Bitcoin News
Jamie Dimon Advocates Defense Priorities Over Crypto Reserves
Cryptocurrency News
Shiba Inu Community Drastically Burns Over a Billion SHIB Tokens
Shiba (SHIB)
Discover How Pi Network Advances Gaming with Innovative Integrations
Altcoin News
//

COINTURK was launched in March 2014 by a group of technology enthusiasts who believe that Bitcoin will be as important as the internet in the world of the future thanks to the amazing technology underlying it.

CRYPTOCURRENCY LIVE PRICES

  • Bitcoin (BTC) Live Price
  • Ethereum (ETH) Live Price
  • Ripple (XRP) Live Price
  • Solana (SOL) Live Price
  • Dogecoin (DOGE) Live Price
  • Cardano (ADA) Live Price
  • Chainlink (LINK) Live Price

OUR PARTNERS

  • COINMARKETCAP
  • COINGECKO
  • BITCOINHABER
  • BH NEWS
  • 21MILYON
  • NEWSLINKER

OUR COMPANY

  • About Us
  • Cookie Policy
  • Advertising
  • Contact
COINTURK NEWSCOINTURK NEWS
Follow US
© 2025 BLOCKCHAIN Information Technologies. >> COINTURK NEWS
Powered by LK SOFTWARE
Welcome Back!

Sign in to your account

Lost your password?