Leading stablecoin issuer Tether mints another $2 billion on the Ethereum network as fever pitch USDT demands emerge following the crypto market bullish outburst.

The incessant demand for stablecoins in the crypto market has resumed following a broader market’s resurgence. The surging demand is evident in the over $765 billion added to the crypto market in the past week.

With over 43% dominance, Tether’s USDT has been a crucial indicator of growing market demand. Blockchain analytic firm Lookonchain noted that the leading stablecoin issuer minted $2 billion on its Treasury two days ago, pushing them to exchanges amidst growing market demand.

Meanwhile, Tether has minted another $2 billion on the Ethereum network, its third on the chain in less than a week. Whale Alert confirmed that the stablecoin issuer created the USDT on Ethereum late Monday.

Notably, Lookonchain noted that Bitcoin surged to record highs following Tether’s $2 billion USDT mint two days ago. The fresh Monday mint has sparked speculation that the bullish event might further facilitate a Bitcoin uptrend.

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