Tether 1 billion USDT on November 18, 2024 released on the Ethereum network, as a continuation of previous Tron network transactions.
Although such moves are commonplace, they are worth paying attention to as they reflect the liquidity needs of the stablecoin market and the evolution of demand for cryptocurrencies.
According to data from Etherscan, the Tether Treasury created 1 billion USDT on the Ethereum blockchain on November 18. This transaction is part of the company’s strategy to meet market needs and maintain liquidity.
Previous emissions on the Tron network
On November 14th, Tether made another major issuance when it created 1 billion USDT on the Tron network. According to an analysis by Arkham Intelligence, this amount was not immediately put into circulation after its creation, but was transferred to the Tether Treasury. This move may be part of the company’s strategy, according to which the newly issued stablecoins are kept in reserve to be distributed later in line with market demand.
The Tron network has seen remarkable growth in 2024, especially in innovative areas such as NFTs, memecoins, and decentralized finance (DeFi). Justin Sun, the founder of Tron, highlighted that these advances can significantly increase the popularity and financial performance of the network, thanks to which monthly revenues can even exceed the level of $200 million in the future.
The role of stablecoins in the crypto market
Stablecoins such as USDT are essential in the crypto market as they offer stable value against highly volatile digital assets. These instruments not only provide a safer basis for trading, but also contribute significantly to the liquidity of the market as a whole. Tether’s recent issuances show that the company is actively preparing to meet growing market demand and provide traders with the stability and flexibility they need.
Related content: Could Tether’s new tool revolutionize the world of non-custodial wallets?
Summary
Tether’s recent issuances of USDT on the Ethereum and Tron networks show that the company is proactively responding to market needs and providing the necessary liquidity in the crypto market. These steps can contribute to the strengthening of the role of stablecoins and the stability of the digital asset market.
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<p>The post Tether issues another 1 billion USDT first appeared on CoinBuzzFeed.</p>
