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Home Markets Cryptos

Tether mints over a billion dollars worth of USDT

Olumide Adesina by Olumide Adesina
September 16, 2020
in Cryptos
Tether expected to surpass Ethereum, based on strength of the U.S dollar, ther mints 80,000,000 USDT to unknown wallets within 24 hours, Tether mints over a billion dollars’ worth of USDT, Tether mints over a billion dollars’ worth of USDT
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Tether, the world’s most valuable stable coin by market capitalization, has been gaining a lot of traction lately. The latest development is that Tether treasury minted a billion USDT to unknown wallets, worth over a billion dollars in less than 24 hours, as seen on Whale Alert, an advanced blockchain tracker, and analytics system.

💵 💵 💵 💵 💵 💵 💵 💵 💵 💵 1,000,000,000 #USDT (1,002,251,905 USD) minted at Tether Treasury

Tx: https://t.co/HwdJoMS9Zi

— Whale Alert (@whale_alert) September 15, 2020

At the time this report was written, Tether traded at $1.00 with a daily trading volume of $39 Billion dollars. USDT price is up 0.1% in the last 24 hours. It has a circulating supply of 15 Billion coins and a max supply of 10.2 Billion coins.

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Tether is currently second only to Ethereum (ETH) as the most valuable altcoin in the cryptocurrency market.

What you need to know: Tether is designed as a blockchain-based cryptocurrency whose digital coins in circulation are backed by the same value of traditional fiat currencies, like the U.S dollar, Japanese Yen, or the Euro. It trades under the ticker symbol USDT.

(READ MORE:Tether mints 80,000,000 USDT to unknown wallets within 24 hours)

What are Stablecoins?: Stablecoins are cryptocurrencies created to minimize the price swings that occur in a crypto asset. They are usually pegged to fiat currencies and often exchange-traded commodities.

Global Investors and traders are using it to give their investment portfolios exposure to the US Dollar during these times when uncertainty is high as a result of the worst pandemic (COVID-19) known to man.

 


Follow us for Breaking News and Market Intelligence.
Tags: Cryptocurrency NewsEthereum (ETH)TetherUSDT
Olumide Adesina

Olumide Adesina

Olumide Adesina is a financial market writer, analyst and investment trader. Message Olumide on Twitter @Olumidecapital

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Comments 2

  1. Stop Fud says:
    September 16, 2020 at 12:09 pm

    Stop spreading fud! Do your correct research instead of posting this shit.

    Reply
  2. Anonymous says:
    September 16, 2020 at 9:40 pm

    “Global Investors and traders are using it to give their investment portfolios exposure to the US Dollar during these times when uncertainty is high as a result of the worst pandemic (COVID-19) known to man.” what bullshit. if global investors want USD exposure they will by the USD

    Reply

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