Tether prints more than 160 million USDT in just 24 hours, Bitcoin is about to increase sharply?

Tether continues to print more USDT and that could be a sign of what will happen next to Bitcoin and the cryptocurrency market.

The latest move of the Tether Treasury is to cast an additional $ 60,000,000 in the midst of the corona virus pandemic.

It seems the new money is ready to enter the market shortly. The stablecoins have made a lot of effort recently to increase liquidity, but Tether is leading the way.

According to CTO of Bitfinex, Paolo Ardoino, the new USDT is for replenishing inventories. This means it has not yet been released into the market, but it is likely being cast for an organization or whale. It is not clear when we could witness this 60 million USDT entering the market.

Some have compared the untested USDT TT coin mint to a 'bailout package' and the Fed printed money to support the economy. Last September, the co-founder of Tether said that it doesn't really matter if USDT is backed by an equivalent amount of dollars. Does Tether simply Fed and print its money but give the cryptocurrency space? Some users seem to be inclined to this theory.

Tether increased USDT circulating supply to 13.3% in three months

According to data recently shared on Telegram by Unlolded - a group analyzing Bitcoin and cryptocurrencies - Tether has increased the circulating supply of USDT to a staggering 13.3% in the past three months, with the number of tokens worthing. $ 161 million was added in the last 24 hours.

In less than 3 months, the supply of Tether traffic increased by 13.3% or 627 million USDT to be put into circulation.

Tether in them USDT 2

Although the addition of this huge amount of USDT to the cryptocurrency ecosystem has come about during the time of huge selling pressure on Bitcoin, historical precedents seem to indicate that this is a sign of a high price rise. for BTC in the near future.

Tether has long been accused of using their USDT printing ability to manipulate Bitcoin, with the addition of these tokens to the cryptocurrency ecosystem that is directly related to the huge BTC price fluctuations.

Last year, it faced a lawsuit that is still going on till now with claims that Tether and Bitfinex Treasury used USDT to cover their debts in more than $ 800 million.

The market capitalization of USDT is strongly correlated with the price of Bitcoin

In terms of why the large increase in the circulating supply of USDT makes sense for Bitcoin, over the years there has been a strange correlation between BTC price trends and USDT's market capitalization.

Charles Edwards, an investor at Capriole, talked about this phenomenon in a recent tweet, explaining that he believes the recent increase in the market cap of USDT is a healthy sign for Bitcoin.

“The major changes in Tether's capitalization have affected Bitcoin prices over the past 1.5 years. January 5, 2020 is no different. A healthy signal. Continue printing ”.

Assuming that this trend continues into effect in the future, the recent increase in USDT supply seems to suggest that Bitcoin may soon see some strong bullish momentum.

Disclaimer: This is not investment advice. Investors should research carefully before making a decision. We are not responsible for your investment decisions.


According to AZCoin News

Follow the Twitter page | Subscribe to Telegram channel | Follow the Facebook page

Crypto loans are only from 5.9% annual interest rate - you can use the money effectively without selling coins. Earn up to 8% interest per year with stablecoin, USD, EUR & GBP with insurance up to 100 million. Come on, get started now! →


seo marketing wordpress seo seo hosting seo and marketing word press seo wordpress and seo wordpress marketing hosting seo seo press pro market seo seo & marketing seo e marketing e marketing seo seo pro wordpress marketing & seo seo di wordpress wordpress seo host hosting and seo wordpress hosting seo wordpress seo wordpress wordpress for marketing seo press wordpress marketing for seo