Tether minted over $13 billion in USDT since the beginning of November.
The surge in USDT minting coincides with rising crypto prices.
Bitcoin’s risk-adjusted returns appeal to investors.
Data from IntoTheBlock shows Tether has minted over $13 billion in USDT since the beginning of November. The crypto market analysis platform revealed on X that the last time USDT saw this minting rate was during the 2021 bull run.
$13 billion+ of $USDT has been minted since early November, a pace last seen in 2021 pic.twitter.com/ehtotD74w8
— IntoTheBlock (@intotheblock) December 1, 2024
It is crucial to note that minting over $13 billion worth of USDT in less than thirty days is a significant bullish development. It reflects growing demand for the stablecoin, which has become the base cryptocurrency for most digital asset traders.
Why is USDT So Popular?
Most crypto traders and investors use Tether’s USDT to enter trades. It also acts as a safe haven for users who want to exit volatile positions without withdrawing funds from exchanges. USDT and other stablecoins offer convenient crypto swaps, given their relative price stability.
This surge in USDT minting…
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