Tether Mints 480M USDT in First Week Continuing Printing Spree
Crypto Guide
Live News

Keeping up with all the cryptocurrency news and updates is not an easy task, but we are up to the challenge! This way we can help our readers to keep track of changes in these fast growing currencies. Just like our site, lambo2btc.com is willing to face this challenge and on their site, they compile the features, key elements, and recent news involving bitcoin casino sites and which are the best to try!

Tether Mints 480M USDT in First Week Continuing Printing Spree

May 9, 2020      Vandana Malik

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.

Articles You May Read.

READ  Bithumb Global Introduces Market Trading Services
#1.58 billion USDT #480M USDT #five batches of tokens #High speed printing #Tether #whale alerts
Vandana Malik
Vandana Malik

Vandana has received Master of Arts degree in English from GEU Dehradun. She is currently working as a content writer with Agio Support Solutions and earlier worked as a sub-news editor at Business News and Information Services Private Limited. She is an enthusiastic content writer and aims to bring a compelling yet informative content to the audience. Meanwhile, enhancing her own knowledge in the cryptocurrency and blockchain industry.