It was quite routine yesterday when the news about Tether's 'printing' of another 1 billion USDT was announced. Again on the Ethereum blockchain.
The market is currently surprising with a printing of at least 2 billion USDT per day 😁. The last 'print' was on December 2. Since December 3, the market capitalization of #USDT has increased from $134.16 billion to $136.72 billion.
New volumes of the stablecoin are 'printed' into reserves, but quickly leave the market; the demand from exchanges is high.
The dynamics of USDT 'printing' for 2024:
- December 2024 - already 2 billion #USDT.
- November 2024 - 13 billion #USDT.
- October 2024 - 1 billion #USDT.
- September 2024 - 1 billion #USDT.
- August 2024 - 3 billion #USDT.
- July 2024 - 1 billion #USDT.
- June 2024 - 1 billion #USDT.
- May 2024 - 2 billion #USDT.
- April 2024 - 5 billion #USDT.
- March 2024 - 6 billion #USDT.
- February 2024 - 2 billion #USDT.
- January 2024 - 5 billion #USDT.
In total +42 billion #USDT for the year 2024.
Particular attention should be paid to the data on stablecoin #2, #USDC. Firstly, because this is the key stablecoin for the USA, and secondly - because due to the complicated scheme with constant 'printing' and burnings, it is not so easy to obtain/find consolidated information about it.
We analyzed the data from the WhaleAlert service for November (which became a record month for USDT this year) and got the following data on USDC for November:
- 'Printed' - 2.288 billion USDC,
- Burned - 1.008 billion USDC.
- In total, the net inflow of new 'printed' USDC for the past month is 1.28 billion $. Compared to USDT, it may seem like not much. But it is a lot. Especially considering that in the same month, the market capitalization of USDC increased from 34.87 billion $ to 39.07 billion $. That's +4.2 billion $. In other words, the issuer, the company #Circle, actively brought the stablecoin to the market from its reserves.
The brief conclusion from all that has been said is obvious - the market continues to be pumped with liquidity.
