Tether Mints 1,000,000,000 USDT on Tron, Bitcoin Begins to Break Out

Data shared by the analytics X account @lookonchain and also mirrored by Whale Alert blockchain tracker shows that approximately half an hour ago, Tether issued a massive stablecoin chunk containing 1,000,000,000 USDT.

1 billion USDT in liquidity goes to the market

The stablecoins were minted on the Tron blockchain. Whale Alert also showed that after that, 500,000,000 USDT were shoveled from the Tether Treasury to the HTX exchange that belongs to tech billionaire Justin Sun, the founder of Tron. This could be half of the newly minted USDT batch.

Lookonchain also summarized that since January 29 this year, Tether has created 10,000,000,000, without specifying on which chain those cons were issued.

This is a significant liquidity injection into the cryptocurrency market. Historically such injections have preceded Bitcoin price surges as stablecoins add more “dry gunpowder” to the market, which investors are eager to spend on BTC and other top cryptocurrencies.

Related

Bitcoin is breaking out, adding 2.6%

Today, the flagship cryptocurrency Bitcoin has left traders with their jaws dropped as it started growing all of a sudden and added 2.6% in just a few hours. BTC has soared from $85,212 and is currently changing hands at $87,440 per coin.

This breakout has taken place after several consecutive and substantial price drops faced by Bitcoin last week after the Federal Reserve chairman Jerome Powell announced that due to the signs of inflation pressure remaining, the Fed intends to avoid any rate cutting so far and will maintain the current interest rate. He was heavily slammed by US president Donald Trump for that move who demanded an immediate interest rate cut and saying that he wishes to remove Powell from his position.

Overall, since Wednesday, when the decision was announced and Bitcoin plunged, it has by now rebounded by roughly 5%, rising from $83,290 to the current level.