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Cryptocurrency

150,000,000 USDT minted at the crypto market

Tether Treasury minted a whopping 150 million USDT as observed on Whale Alert, an advanced blockchain tracker.

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Tether, the most promising stablecoin, now the third most valuable cryptocurrency

Tether, the most valuable stablecoin by market value, has seen its coins increase by volume lately in the fast-changing crypto market.

The latest macro on the widely used stablecoin is that Tether treasury minted a whopping 150 million USDT  some hours ago, as seen on Whale Alert, an advanced blockchain tracker, and analytic firm.

READ: Tether whales move USDT 110,000,000 in 1 hour

  • At the time of writing, Tether traded at $1.00 with a 24 daily trading volume of $43.3 billion.
  • Tether is up 0.01% in the last 24 hours. It’s now ranked the fourth most valuable crypto with a market capitalization of $19.6 billion.
  • It has a circulating supply of 19,659,810,789 USDT coins and the maximum supply is not available.

READ: Ethereum yearly gains up by 279%, nears $600

What you should know about Tether

  • 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: Crypto millionaire carts away with $224 million worth of Bitcoin

  • Meanwhile, there is a development disrupting the stablecoin market at an unprecedented level, on strong reports revealing U.S lawmakers are enacting the STABLE Act bill, that will comply all stablecoin issuers to have bank licenses, that is seen as a strong compliance instruction of Tether, Circle, and other leading stablecoins.

READ: 82% of Ethereum investors are in profit

  • Crypto experts have long argued this overly burdensome bill will not only hamper innovation but ensure the only players in this new space are the deep-pocketed fintechs with the resources for compliance.

READ MORE: US imposes $15,000 visa bond on 15 African countries, others

READ: Increased collaboration between Nigeria and South Africa will strengthen African development – Buhari

Olumide Adesina is a France-born Nigerian. He is a Certified Investment Trader, with more than 15 years of working expertise in Investment trading. Follow Olumide on Twitter @tokunboadesina. He is a Member of the Chartered Financial Analyst Society.

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