Tether creates another 1 billion USDT and a bullish trend could be ahead

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Tether creates another billion USDT and a bullish trend
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Tether creates another 1 billion USDT and a bullish trend could be ahead
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On September 16, Tether, the issuer of the world’s largest stablecoin by market value, issued an additional 1 billion USDT on the Ethereum blockchain.

Whale Alert, a leading blockchain explorer, has warned about the transaction on X (formerly Twitter). According to Paolo Ardoino, CEO of Tether, this creation of new tokens is part of an authorized transaction that has not yet been issued to the market. The new USDT tokens will replenish the inventory.

Following the warning, Ardoino responded to the post, reassuring the crypto community about the purpose of the issuance. He explained that Tether has not yet released the tokens into circulation. Furthermore, he stated that the company will use them for future issuance orders and chain swaps.

“This is an authorized but unissued transaction. This means that Tether will use this amount as inventory for future issuance requests and network swaps,” he said.

This strategic move allows Tether to meet future demand for USDT. USDT is pegged to the value of the US dollar, making it essential for traders and investors looking for a stable store of value amid cryptocurrency volatility.

The news has sparked an optimistic response from the crypto community. Users of the X platform have commented positively on the creation of new tokens, suggesting that the move could be an indication of a future bull market.

One commentator pointed out that the inventory replenishment may be related to large investors, known as “whales,” preparing to buy Bitcoin at lower prices. This reinforces the sentiment that a new bull run may be on the horizon.

Furthermore, some technical and fundamental analysts have been pointing to an imminent bullish scenario in the cryptocurrency market. Michaël van de Poppe, founder of MNConsultancy, for example, highlighted that both Bitcoin and commodities in general could enter a bullish cycle in the coming years. This is because these assets would be undervalued in the current scenario.

Tether continues to expand its presence on multiple blockchains beyond Ethereum, where the authorized supply of USDT stands at $53.9 billion.

The Tron network, however, leads in terms of USDT supply, with around $61.8 billion worth of authorized tokens. In the case of Tron, $61.03 billion of these tokens are already in circulation. Meanwhile, approximately $762 million remains as authorized but not yet issued supply, as in the case of Ethereum.

Tether creates another 1 billion USDT and a bullish trend could be ahead

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