Data from IntoTheBlock shows that Tether has issued over 13 billion dollars in USDT since the beginning of November. The cryptocurrency market analysis platform indicated on X that the last time USDT saw such a rate of issuance was during the bull rally of 2021.

It is important to note that the issuance of USDT amounting to over 13 billion dollars in less than thirty days is a significant bullish event. This reflects the growing demand for the stablecoin, which has become the baseline 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, considering their relative price stability.

This surge in USDT minting coincides with the cryptocurrency market rally of last November, highlighting the correlation between demand for USDT and market trends. It underscores the growing confidence of users and potential expectations for a continuation of the bull market$XRP $VET