On-chain data shows that as of yesterday (the 10th), Tether has issued a total of 4 billion USDT on Ethereum over the past three days, coinciding with Bitcoin reaching a new high. BNB1357
According to Spot On Chain monitoring, Tether issued 4 billion USDT on Ethereum in just three days, with approximately 3.44 billion USDT transferred to major exchanges, including 1.75 billion flowing into Binance and 770.8 million into Coinbase.
Regarding related developments, Tether also minted an additional 1 billion USDT on the Ethereum chain yesterday, classified as 'authorized but not yet issued' transactions. This means these tokens will serve as inventory for future issuance requests and on-chain swaps.
Tether CEO Paolo Ardoino clarified that this move is part of Tether's strategy to maintain sufficient USDT supply to ensure smooth liquidity management without immediately releasing it into circulation.
As USDT issuance surges, cryptocurrencies have become the focus of market buying, significantly boosting investor sentiment and driving the demand and usage of USDT, thanks to its wide availability across major exchanges and frequent use in trading pairs.
As of the third quarter of this year, the total market value of circulating USDT is approaching 120 billion dollars. According to Tether, the circulation of USDT has grown by 30% year-to-date, equivalent to an increase of 27.8 billion dollars, nearly equal to the total market value of other stablecoin competitors.
