{"id":141624,"date":"2024-11-07T13:30:27","date_gmt":"2024-11-07T11:30:27","guid":{"rendered":"https:\/\/cryptodnes.bg\/en\/?p=141624"},"modified":"2024-11-07T11:37:14","modified_gmt":"2024-11-07T09:37:14","slug":"tether-injects-almost-2-billion-in-the-crypto-market","status":"publish","type":"post","link":"https:\/\/cryptodnes.bg\/en\/tether-injects-almost-2-billion-in-the-crypto-market\/","title":{"rendered":"Tether Injects Almost $2 Billion in the Crypto Market"},"content":{"rendered":"
Spot On Chain<\/a><\/strong>, a blockchain analytics platform, reported on social media that Tether initially minted 2 billion USDT<\/a> <\/strong>on Ethereum<\/a> <\/strong>before removing 1 billion USDT from circulation on the Tron network, a blockchain designed for decentralized apps.<\/p>\n The breakdown of Tether\u2019s recent USDT injections includes $1.706 billion sent to Binance, $101.7 million to Coinbase, $20 million to OKX, and $17.86 million to Kraken. In the last year, Tether has issued around $37 billion USDT across Ethereum and Tron<\/a><\/strong>, which seems to have influenced Bitcoin\u2019s price<\/a><\/strong>, lifting it from $35.6K to its new high of $76,460.<\/p>\n Tether\u2019s Impact on Bitcoin Spot On Chain previously noted that large USDT issuances often correlate with upward momentum or stability in Bitcoin\u2019s price, suggesting Tether\u2019s recent moves contributed to Bitcoin\u2019s 9% price surge on November 6.<\/p>\n