Tether Mints $1 Billion As Global Economic Uncertainty Remains



For the first time in over a month, Tether has paid $1 billion USDT on the Tron network.

Tether, the world’s largest stablecoin issuer, has just minted $1 billion worth of USDT on the Tron network. This is the first time the company has issued such a large amount in more than a month, and it brings the total volume of transactions to about $183 billion, more than $100 billion more than its nearest competitor USDC.

According to its official transparency page, Ethereum has more than $96 billion in total supply, while Tron is in second place with $86 billion.

Although such moves do not usually cause significant volatility in the markets, the company can expect an increase in demand for USDT amid military tensions around the world.

The war in Iran has sent ripples across the global economy. Just last week, the price of crude oil exploded more than 30% on a daily basis, reaching $120, before falling on subsequent announcements during the same day (and beyond). This had an immediate impact on the price of Bitcoin, which followed and also experienced extreme volatility.

It’s inevitable that global geopolitical turmoil will affect crypto markets, and while the current $1 billion movement may cause immediate price swings, increased liquidity around the world may help the market absorb potential shocks.

SPECIAL OFFER (Special)

Binance Free $600 (CryptoPotato Exclusive): Use this link to register a new account and get a $600 welcome offer on Binance (full details).

LIMITED OFFER for CryptoPotato readers at Bybit: Use this link to register and open a FREE $500 position on any coin!


Add Comment