Tether Mints 3B USDT in a Week: Where Did It Go?
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- Lookonchain’s data shows Tether minted 3 billion USDT in one week.
- Tether sent the stablecoins to Kraken, OKX, Coinbase, Binance, and Bullish.com.
- Traders suspect a potential crypto market rally following Tether’s minting of new tokens.
Blockchain analytics platform Lookonchain reports that Tether has minted a massive 3 billion USDT in just one week. The distribution of these newly minted stablecoins across major exchanges has fueled speculation about their impact on the crypto market.
Lookonchain detailed the flow of these USDT tokens using a visual diagram on X (formerly Twitter), highlighting how a significant portion was sent to exchanges like Kraken, OKX, Coinbase, and Binance through Cumberland, a prominent crypto trading firm.
According to Lookonchain’s illustration, Tether sent 1.75 billion of the…
The post Tether Mints 3B USDT in a Week: Where Did It Go? appeared first on Coin Edition.
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