Tether Mints 480M USDT in First Week Continuing Printing Spree

Vandana  |  May 9, 2020

In the last month, it has been seen that Tether was printing the tokens very rapidly. Well, this has not been affected in this month also as in the first week of May it has printed 480 million USDT. Through this, it has been indicated that it is not letting anything dampen its production and is continuing its printing spree.

It has also been revealed that the amount of token which has been printed by Tether in just the first week of May is equal to what it printed in April’s first half. According to Whale Alerts, in the last five days, the stablecoin issuer has printed a total of five batches of tokens which is over 480 million USDT.

Tether created 1.58 billion USDT in April

Not only this month but Tether was printing rapidly in the previous month also i.e. April as it has created around 1.58 billion USDT in that month. Through reports, it came out that April 2020 was one of the busiest months for the company till date.

Today i.e. May 09, the company’s treasury has printed around 100 million USDT and on Thursday i.e. May 07, the company has printed a total of 220 million USDT. It has been assumed that if the company will keep printing at this high rate then it might reach twice the amount which was printed in April.

High-speed printing will not affect crypto prices

As the company has been printing at a very rapid rate, there are several queries from various investors of the crypto market that it will affect the price of cryptocurrencies. Condemning this claim, Tether asserts that printing USDT does not affect the price of cryptocurrencies in any way. However, some reports also claim that this high printing of USDT will have a positive and bullish effect on the price of Bitcoin.

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