On August 31, Tether Ltd. issued an additional 1 billion USDT on Ethereum, bringing the total to 3 billion USDT in just three days, according to Onchain Lens. This move is seen as a large liquidity pump, which could significantly impact the trading volume and value of assets like Bitcoin and Ethereum.
Experts believe that the issuance of USDT comes amid numerous speculations about regulations, indicating that Tether aims to increase liquidity and support trading activities. Many on-chain sources indicate that this is a strategy led by CEO Jean-Louis van der Velde, CTO Paolo Ardoino, and Chairman Giancarlo Devasini.
With 3 billion USDT set to circulate, the market may face short-term volatility. In the past, an increase in liquidity has often triggered optimistic sentiment and led to short-term price surges of Bitcoin, Ethereum, and many other cryptocurrencies.
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Tether pumped 3 billion USDT into Ethereum in a record minting event
On August 31, Tether Ltd. issued an additional 1 billion USDT on Ethereum, bringing the total to 3 billion USDT in just three days, according to Onchain Lens. This move is seen as a large liquidity pump, which could significantly impact the trading volume and value of assets like Bitcoin and Ethereum.
Experts believe that the issuance of USDT comes amid numerous speculations about regulations, indicating that Tether aims to increase liquidity and support trading activities. Many on-chain sources indicate that this is a strategy led by CEO Jean-Louis van der Velde, CTO Paolo Ardoino, and Chairman Giancarlo Devasini.
With 3 billion USDT set to circulate, the market may face short-term volatility. In the past, an increase in liquidity has often triggered optimistic sentiment and led to short-term price surges of Bitcoin, Ethereum, and many other cryptocurrencies.