Tether Prints 250 Million Ether-Based USDT To Increase Native Supply Stream

  • In the past, a number of $20m USDT transactions have been executed by Tether.
  • Technical data seems to suggest that Tether is still growing and the demand for its USDT crypto offering is still increasing in 2019.
  • In the wake of all the scandals associated with Tether over the past few months, it has just come to light that the firm has brought into circulation an additional 250 million Ethereum-based USDT.

From a technical standpoint, we can see that as the price of BTC increases, more often than not, the total circulatory volume of USDT also goes up. This, in the estimation of a number of experts, is a big issue since a lot of people still think that Tether is “actively manipulating the cryptocurrency market”.

  • Recently, two USDT transactions grabbed the attention of a lot of people even though they seem to be perfectly legitimate. One of them is worth 150m USDT while the other about 100m USDT.
  • Both of the tx’s took place during the last eight days — thereby coinciding with BTCs recent rally which saw the price of the premier asset move above the $9k mark.
  • It is worth remembering that such voluminous transactions are not uncommon within the Tether ecosystem. However, such massive back-to-back transactions aren't often witnessed on a regular basis.
  • According to Paolo Ardiono — CTO for BitFinex — Tether’s freshly minted assets have still not gone into mainstream circulation at this point.

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Shiraz J
Shiraz is a multi-year cryptocurrency analyst and blockchain journalist residing in Melbourne, Australia. When he is not writing about the bitcoin ecosystem, he enjoys the art of meditation, playing the blues and traveling the world.

[Alert] Use the author's self-conducted information at your own risk, do you own research, never invest more than you are willing to lose.

[Disclosure] The published news and content on BitcoinExchangeGuide should never be used or taken as financial investment advice. Understand trading cryptocurrencies is a very high-risk activity which can result in significant losses. Editorial Policy \\ Investment Disclaimer

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