Tether Injects 1 Billion USDT More as Bitcoin Halving Almost Here By U.Today

Today – as the countdown to the long-awaited halving event inches closer, prominent issuer of USDT has made a notable move to mint an additional 1 billion USDT on its network. This maneuver by Tether comes at a critical juncture, with Bitcoin’s halving occurring in just a few hours and currently less than 100 blocks away.

The minting of 1 billion USDT has sparked widespread interest and speculation within the crypto community, raising questions about its potential impact on market dynamics leading up to and following the historic Bitcoin halving.

Tether CEO Paolo Ardoino shed some light on the issue, stating that although the transaction was approved, the newly injected USDT is pending issuance and will not be used for future inventory and chain swaps on the Ethereum network. It has been revealed that it has been assigned.

The move by Tether comes amid increased activity, with USDT’s market capitalization already exceeding $109.55 billion, solidifying its position as the third-largest asset in the crypto market. Additional USDT injections are expected to further strengthen liquidity and may impact trading trends in the lead-up to the Bitcoin halving event.

Where is the liquidity?

Spot On Chain, a leading analytics firm, shared recent insights into Tether activity, highlighting that the Tether treasury minted a staggering amount of USDT 5 billion in the past 30 days alone. This includes 2 billion USDT on the Ethereum chain and 3 billion USDT on the TRON chain, a significant portion of which has already been deposited on major crypto exchanges.

As the crypto community looks forward to Bitcoin’s impending halving, Tether’s actions and its interaction with this historic milestone add further intrigue to the unfolding landscape of crypto markets.

This article was originally published on U.Today

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