Blockchain data shows that stablecoin issuer Tether has minted over $33 billion in USDT over the last year.
According to blockchain tracking firm Lookonchain, $33 billion in USDT has been minted on the Tron (TRX) and Ethereum (ETH) blockchains.
“Tether Treasury minted 1B USDT on Tron Network again 25 minutes ago!
TetherTreasury has minted 33B USDT in the past year, of which 19B USDT was minted on Tron Network and 14B USDT was minted on Ethereum.”
According to closely followed crypto analyst Ali Martinez, there has been a strong correlation between the price of Bitcoin (BTC) and Tether’s minting of new USDT.
“Tether is like the federal reserve of crypto! Every time more USDT is minted, the market seems to climb higher.
During the latest Bitcoin correction, those USDT printers were working overtime!”
According to a recent announcement from Tether, USDT will soon also be available on Aptos (APT), a high-speed Ethereum rival blockchain built for scalability.
Aptos utilizes a Proof-of-Stake (PoS) consensus mechanism, and its blockchain processes transactions in parallel, aiming to enhance efficiency and speed.
According to the announcement, USDT gas fees on Aptos will cost less than a penny.
Don’t Miss a Beat – Subscribe to get email alerts delivered directly to your inbox
Check Price Action
Follow us on X, Facebook and Telegram
Surf The Daily Hodl Mix
 
Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any losses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.
Generated Image: Midjourney
The post Tether Mints Over $33,000,000,000 in USDT This Year on TRON and Ethereum: On-Chain Data appeared first on The Daily Hodl.
