Tether Holdings Ltd., the issuer of the USDT stablecoin, minted an additional $2 billion of tokens on 24 July, according to blockchain data, bringing its total new issuance since 1 July to more than $7 billion.
The latest transaction follows three separate $1 billion mints on 17 July that collectively added $3 billion to the supply in less than 24 hours. Tether typically creates new USDT in response to anticipated customer demand, holding the tokens in its treasury until they are distributed to counterparties.
Market participants say the rapid expansion in USDT supply signals growing demand for dollar-denominated liquidity across cryptocurrency trading platforms.
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Source: https://thedefiant.io/news/markets/tether-mints-2-billion-usdt-july-issuance-tops-7-billion-612c34ef