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Data shared by 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.
One billion USDT in liquidity goes to 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 Jan. 29 this year, Tether has created 10,000,000,000, without specifying on which chain those coins 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.
Yuri MolchanBitcoin breaking out, adding 2.6%
Today, the flagship cryptocurrency, Bitcoin, has left traders with their jaws on the ground 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 took place after several consecutive and substantial price drops faced by Bitcoin last week after Federal Reserve Chairman Jerome Powell announced that due to 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 U.S. President Donald Trump for that move; Trump demanded an immediate interest rate cut, 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.
Vladislav Sopov
Dan Burgin