On November 9th, COINOTAG News reported significant movement in the crypto market, as Whale Alert detected the minting of an additional 1 billion USDT by Tether Treasury on the Ethereum network. This operation, as explained by Tether’s Chief Technology Officer, Paolo Ardoino, is categorized as an authorized but unissued transaction. This indicates that the minted USDT will play a vital role in upcoming issuance requests and on-chain swaps, reinforcing Tether’s liquidity strategy. The decision to mint such a considerable amount underscores the ongoing demand for stablecoins in the market, particularly in the wake of fluctuating cryptocurrencies. Market participants are closely monitoring these developments, as they could influence trading dynamics and investment strategies across various exchanges.
Source: https://en.coinotag.com/breakingnews/tether-usdt-mints-1-billion-more-on-ethereum-insights-from-cto-paolo-ardoino/