Africa's increasing cryptocurrency adoption and the demand for stablecoins highlight the need for accessible and efficient financial solutions. '' What is Tether (USDT), How to Get It and How to Store It - CryptoCompare The minting occurred on Dec 4, 2021, in a year that has already seen many billions of USDT created. Spoiler Alert: You won’t want to! All Tether tokens are pegged at 1-to-1 with a matching fiat currency (e.g., 1 USD₮ = 1 USD) and are backed 100% by Tether’s reserves. I would use this to provide a low-frequency / longer-term view on forward momentum and directional skew. He also closely follows all of the latest news around the largest decentralized exchanges (DEXs). The current market value of Ethereum is sitting at $1,700, however, the price is currently facing significant resistance near the $1,710 level. The hottest crypto news, straight to your inbox! Forbes' top 10 Best Crypto Exchanges of 2023 .Providing Spot trading 400+coins (like DOGE&XRP) and up to 200X leverage in Futures trading. Their main trading pair is USDT. In adherence to the Trust Project guidelines, BeInCrypto is committed to unbiased, transparent reporting. var abkw = window.abkw || ''; After the June 30th Independent Accountants report, Tether minting briefly stopped, with the total supply decreasing around 1 billion in the July period. Despite recent negative developments in the crypto market, the sentiment seemed to be somehow bullish as Tether, its stablecoin and some major cryptos show resilience in the past couple of days. The transformation of value in the digital age. Tether Mints Another 1 Billion USDT Tokens: Supply Now Up By 200% in 2021. Furthermore, each attendee received their first USD₮ on the Yellow Card platform. The supply of Tether, the leading stablecoin, has grown by over 200% this year. This includes the development of digital courses to equip more Africans with the knowledge and skills required to navigate the world of stablecoins and cryptocurrencies. Free access to Real-time quotes, Financial news, Market data and investing analysis. The newly minted 1 billion USDT issued brings the total USDT on the TRON Network to $32 billion. Tether tokens are referred to as stablecoins because they offer price stability as they are pegged to a fiat currency. Tether Minting & Momentum - Tr8dr - GitHub Pages Note that the evidence for the above is circumstantial but quite This is not the first instance of the world’s largest stablecoin minting new tokens. To submit a token information's update request, please confirm beforehand that you have: Etherscan is a Block Explorer and Analytics Platform for Ethereum, a decentralized smart contracts platform. Head to consensus.coindesk.com to register and buy your pass now. Anonymous play on awesome games - sign up now for 25 free jackpot spins - worth $100s! window.yaContextCb.push(() => { Tether’s circulating supply is now over 76 billion. Should the data indicate positive trends, it could potentially boost investor confidence and lead to a surge in the price of Ethereum. Every Tether token is 100% backed by our reserves, which includes traditional currency and cash equivalents, and may include other assets and receivables from loans made by Tether to third parties. As the first blockchain-enabled platform to facilitate the digital use of traditional currencies (a familiar, stable accounting unit), Tether has democratised cross-border transactions across the blockchain. Advanced blockchain and analytics system, Whale Alert, announced that Tether has minted another 1 Billion USDT. As a fully transparent company, we publish a daily record of the current total assets and reserves. Conversely, negative results could result in a decline in Ethereum’s value, potentially pushing it towards its immediate support levels. '', While there are concerns about the minting of USDT by the Tether Treasury, Tether released a consolidated reserves report earlier in the year that backs up all USDT. Opt-in, make your first trade on Exchange Plus & receive random crypto rewards from 10,000 SHIB, to 0.01 BTC. Located in the El Chiste hamlet within the municipality of Metapán, Santa Ana, the site chosen for this development will be divided between 169 MW of photovoltaic solar energy and 72 MW of wind energy. consistent buying activity to seem to occur before subsequent momentum. The SEC has also subpoenaed Circle, and the latter says they will cooperate fully on the matter. USDT, which is pegged to U.S. dollars, usually trades at $1. Tether has been accused of minting tokens that did not exist. In June and July, USDT’s market cap stagnated around $62 billion despite small fluctuations. Tether is benefiting from the chaos in the USDC market with the organization minting more than $2 billion on both the Ethereum and Tron blockchains. to the massive move from 10K$ to 35K$ (in this period): We do see a “phantom” spike in Tether buying around 2020-05-11, with no particular forward momentum. The USDT circulating supply is currently approximately 76 billion. Analytical cookies are used to understand how visitors interact with the website. A token is a representation of an on-chain or off-chain asset. Slots, Live Games, Dice, Crash & Sports betting. Other spikes and/or Tether minted three billion USDT in the first week of November, and the latest minting put its circulating supply at roughly 76 billion USDT. Tether’s recent minting could give the top altcoin a much-needed shot in the arm in price in the medium to long term. Since this original version of Tether uses the Bitcoin blockchain, it inherits the inherent stability and security of the longest established blockchain network. volume, new investors will need to buy Tether in order to transact with BTC/USDT and other cross pairs. Currently, Ethereum’s immediate support levels are at $1,600 or $1,495, on the lower side. Suitable for everyone, from crypto newbs to battle-tested veterans. Tether printer go brrr The simple answer to. In 2021 alone, USDT supply has increased by over 200%. The collaboration successfully reached over 10,000 young people, including students from renowned institutions such as the University of Nairobi in Kenya, the University of Benin in Nigeria, and the Kwame Nkrumah University of Science and Technology in Ghana. ownerId: window.adFoxOwnerId, The constant minting of new USDT tokens has seen the supply of the stablecoin increase drastically. No other finance apps are more loved, Custom scripts and ideas shared by our users. Tether works to disrupt the conventional financial system via a more modern approach to money. Tether Mints Three Billion USDT in Past Two Weeks The Tether price is $1.00, a change of 0.07% over the past 24 hours as of 2:19 a.m. As a percentage of the . }) The average trading volume of USDT against solana for the first 22 days in August stood at 386.6 million, up from a July average of 123.4 million and a June average of 290.7 million, according to CryptoCompare. Tether tokens are the most widely adopted stablecoins, having pioneered the concept in the digital token space. “BTC’s price may be up, but trading volumes haven’t changed much,” noted Acheson. Although comparatively smaller than yesterday’s price movement, it is a welcome addition for investors to pad their portfolios. var plc588602 = window.plc588602 || 0; This paper investigates Bitcoin's response to USD₮ supply change events between 2014 and 2021 and identifies an interesting asymmetry between Bitcoin's responses to USD₮ minting and burning events. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. BC.GAME - the best crypto casino. That's less than 50% of the tether that exists. It will take "multiple years for all of the critics to be convinced,” Pike said. Tether is benefiting from the chaos in the USDC market with the organization minting more than $2 billion on both the Ethereum and Tron blockchains. With capital flight already happening on USDC markets, Tether's recent minting would drive up demand for the . All Tether tokens (USD₮) are pegged at 1-to-1 with a matching fiat currency and are backed 100% by Tether’s reserves. ), heather jackson husband wattie. Tether minted $1 billion worth of USDT on TRON. onLoad: function() The largest cryptocurrency by market cap, bitcoin, has rebounded from its July low of around $29,600, trading at $49,540 as of press time, up 1.8% over the past 24 hours. } These cookies ensure basic functionalities and security features of the website, anonymously. Tether's recent minting could give the top altcoin a much-needed shot in the arm in price in the medium to long term. Tether tokens enable businesses – including exchanges, wallets, payment processors, financial services and ATMs – to easily use fiat currencies on blockchains. To clear the air, Tether released a consolidated reserves report in April that backs up all USDT. Fri May 12 15:21:51 UTC 2023, Earth’s First Recycle2Earn Crypto Project, Ecoterra Offers A Recycled Materials Markeplace. Probing the intersection of crypto and government. Tether The Tether platform is fully reserved when the sum of all Tether tokens in circulation is less than or equal to the value of our reserves. Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. This was unsurprising, given Tether’s position in the stablecoin market and its controversial history. For merchants, integrating Tether tokens opens up an array of opportunities for consumers to purchase products and services. We use cookies on our website to give you the most relevant experience by remembering your preferences and repeat visits. While Tether remains the world’s leading stablecoin with a market capitalization of $64.49 billion (64.47 billion USDT), there have been concerns about the stablecoin, especially in regards to its transparency. 1.010-4804-gd2b910410 Cboe Digital receives nod for margin trades on its crypto futures exchange, Coinbase, Robinhood, CFTC to testify in Congress over draft crypto bill, Binance lawsuit: 61 cryptocurrencies are now seen as securities by the SEC. Tether’s backing has been the subject of investor scrutiny for many years, and it is only in the past 12 months that it has made a more tangible effort to allay concerns. Tether on the Ethereum blockchain, as an ERC20 token, is a newer transport layer, which now makes Tether tokens available in Ethereum smart contracts or decentralized applications on Ethereum. Learn more about Consensus 2024, CoinDesk’s longest-running and most influential event that brings together all sides of crypto, blockchain and Web3. } Upgrade your inbox and get our DailyCoin editors’ picks 1x a week delivered straight to your inbox. How do we know when new Tether is being issued? : Tether These transport protocols consist of open source software that interface with blockchains to allow for the issuance and redemption of Tether tokens.Â. longer-term leading measures, like mempool, should provide an enhanced view of possible forward momentum activity. rate of new Tether (USDT) issuance may be a good indicator of forward momentum (on a longer timeframes). supply volume of 83,152,494,319 alongside $30B 24h trading volume. The cookie stores information anonymously and assigns a randomly generated number to recognize unique visitors. Help crypto adoption and reduce tax payments, Compare crypto by size, fees, transactions per second, and more, Track upcoming hard forks and latest updates to cryptocurrency clients, like Bitcoin Core and Geth, Broadcast raw transactions for BTC, ETH, BCH, LTC, BSV, DOGE and GRS privately, Miners, transaction fees and the block reward, Blockchair brings the search engine for 17 blockchains to your browser, Learn about node accessibility, locations, consensus and more. The Role of 'Whale Alerts' and Sentiment in Bitcoin's Reaction to ... When the issue of minting new tokens arose earlier in August, Paolo Ardoino, CTO of Tether, reported that; Unlike traditional cryptocurrencies, which are open to volatility and can quickly rise or drop in value, stablecoins have their market cap pegged to fiat currencies, such as the U.S Dollar in the case of Tether. Some of the largest businesses in the digital currency ecosystem have integrated Tether tokens. Not only is “Volcano Energy”  important for the future of Bitcoin resiliency, it’s also an important sign of the new crucial role that El Salvador plays in the global tech environment.”Â. Following on its mission to invest in renewable energy sources to support and promote sustainable Bitcoin mining, Tether will provide capital and bring its domain expertise in energy, hardware, and communications to build “Volcano Energy”, a 241 MW renewable energy generation park in Metapán. It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. It is a defacto fiat currency, with fractional reserves. Tether Minting & Momentum Posted January 8, 2021 Tether started as a stable coin with a purported 1:1 backing of USD initially (though at this point we know that Tether is only fractionally backed). A variation of the _gat cookie set by Google Analytics and Google Tag Manager to allow website owners to track visitor behaviour and measure site performance. On March 10th it was reported that Tether had minted 1 billion USDT tokens. if (window.isAdFox) { 5000+ Slots & Live Casino Games, 50+cryptos. Similarly, in September 2020, reports also emerged that the Tether Treasury had minted another 1 billion Tether, however, these were sent to unknown wallets. The news which was first announced by Whale Alert, a tracker of large transactions, confirmed that, on Monday, August 9th, the leading stablecoin minted 1 billion USDT tokens and sent them to the TRON network. By integrating solar and wind projects within the volcanic region, Tether aims to play a key role in paving the way for one of the world's largest Bitcoin Mining Farms.Â. Win Big$, withdraw it fast. The cookie is used to store the user consent for the cookies in the category "Performance". Tether is committed to addressing the unique challenges faced by African communities through our collaboration with Yellow Card.
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