Tether, the issuer of the USDt stablecoin, has minted an additional $3 billion in tokens. The increase brings the total circulating supply of USDT to over $132.5 billion, cementing its status as the largest stablecoin by market capitalization.
According to Arkham Intelligence, $2 billion worth of USDt was minted on the Ethereum blockchain, while another $1 billion was issued on the Tron network in consecutive transactions.
Roughly $13M USDt Minted
Data from Lookonchain revealed that Tether has minted roughly $13 billion in USDt since November 8. On November 24, Tether CEO Paolo Ardoino also noted that in 2025, Tether will achieve hyper-productivity to realize its grand vision.
Traders and investors frequently view stablecoin activity as an indicator of market interest. A significant increase in newly issued stablecoins is often interpreted as a positive signal for potential price growth, whereas lower issuance tends to suggest weaker market momentum.
The additional USDT supply is expected to provide more liquidity to the crypto market, particularly in trading pairs that rely on the stablecoin. Analysts suggest that this influx of liquidity could further fuel the current market rally, as traders easily leverage USDT to enter or exit positions.
BTC Expected to Hit $100,000 Level
Following Donald Trump’s election on November 5, BTC prices skyrocketed from approximately $69,000 to a record-breaking high of over $99,000 within two weeks of the United States elections. However, the crypto asset slightly dropped during the weekend and is currently trading at over $98.500.
With the crypto asset nearing the $100, 000 mark, investors have predicted several outcomes concerning the digital asset. Bitcoin developer and cypherpunk Adam Back, noted that the price of BTC could hit $1 million if a Bitcoin strategic reserve is established under the incoming Trump administration.
Also, on November 19, President-elect Trump appointed Howard Lutnick, CEO of Cantor Fitzgerald and crypto advocate, as commerce secretary. Cantor Fitzgerald oversees the U.S. Treasury reserves that back Tether’s USDt stablecoin. A few days after Lutnick’s cabinet appointment, Fitzgerald revealed it acquired a 5% stake in Tether, valued at approximately $600 million.
