Tether, the company behind the popular stablecoin USDT, has been busy minting new coins. This year alone, they’ve created over $33 billion worth of USDT!
Tron and Ethereum are the Hot Spots
Most of this new USDT was minted on the Tron and Ethereum blockchains. Tron got the lion’s share with $19 billion, while Ethereum saw $14 billion minted.
Is Tether the Crypto Fed?
Some analysts think there’s a connection between the price of Bitcoin and how much USDT Tether mints. One analyst even called Tether “the Federal Reserve of crypto,” suggesting that new USDT creation might be driving up the market.
USDT Coming to Aptos
Tether is expanding its reach. They’ve announced that USDT will soon be available on Aptos, a fast-growing blockchain that’s designed to be more scalable than Ethereum. Aptos is known for its speedy transactions and low fees. Tether says that using USDT on Aptos will cost less than a penny per transaction.
Remember: This is just news, not financial advice. Do your own research before investing in crypto.
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