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Tether issues over $2 billion in USDT and could boost Bitcoin price
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Tether, the company responsible for issuing USDT, the largest stablecoin in the crypto market, issued more than US$2 billion in USDT in the last 24 hours, as shown by data from Arkham.
With this operation, the company achieved weekly issuance of US$7 billion. The new issuances also increased the total market capitalization of USDT which now stands at US$127.3 billion, recording a new all-time high.
This expansion in the supply of the largest stablecoin on the market coincides with an optimistic scenario for Bitcoin (BTC). BTC has been registering a significant increase in November, remaining close to its new all-time highs, between US$89,000 and US$93,000.
Analysts highlight that the growing demand for USDT reflects greater liquidity in the market. Historically, this sets the stage for an increase in purchasing activity for Bitcoin and other cryptocurrencies.
Relationship between USDT and Bitcoin
USDT functions as a stablecoin, pegged to the US dollar, and is widely used by investors who want to reduce exposure to volatility while maintaining liquid capital for strategic reinvestments. When USDT issuance increases, the market often interprets the movement as a sign of preparation for increased trading activity.
The trader known as Crypto Rover reinforced this bullish outlook. He highlighted that, with the current rate of issuances, Bitcoin could reach the US$100,000 mark in the next 15 days. This is if Donald Trump, president-elect of the USA, does not make any “pro-market” announcements.
Crypto Rover also points out that the increase in USDT supply indicates greater available liquidity, enhancing the appreciation of assets such as BTC.
In addition to the high issuance of USDT, other factors have boosted the cryptocurrency market. Trump’s recent victory in the US presidential elections has reignited debates about the adoption of Bitcoin as a government strategic reserve. This increased optimism throughout the market.
At the same time, cuts in interest rates in the United States reduced the cost of credit, injecting liquidity into the economy and benefiting risky markets such as cryptocurrencies.
Tether issues over $2 billion in USDT and could boost Bitcoin price
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Tether issues over $2 billion in USDT and could boost Bitcoin price
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Tether issues over $2 billion in USDT and could boost Bitcoin price
