Hot 🔥🔥🔥 Tether adds 1 billion USDT amid $BTC exceeding 100K
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Tether, the largest market cap stablecoin issuer, has issued 1 billion USDT tokens on the network #Ethereum✅ today, adding to the issuance this month.
Blockchain tracker Whale Alert reported this transaction. Tether explained that this issuance is to "supplement the USDT reserve," meaning the tokens are authorized but not yet issued. They are added to Tether's reserve to meet future issuance requests and chain conversions. This approach helps ensure sufficient supply for effective liquidity management, with tokens officially issued when released.
Typically, companies supplement inventory to meet expected demand. Tether's move indicates rising demand for USDT on Ethereum, where supply is running low.
What do you think about this action from Tether? Feel free to share your thoughts in the comments!
—Ghost Writer