Why Did Tether Just Destroy Another $1.8 Billion Worth of USDT?
- Tether burns $1.8B USDT, signals active supply control amid keen market watch
- Recent $3.8B USDT total burn may tighten crypto liquidity & impact DeFi
- Large Tether burns question stability strategy as regulators increase scrutiny
Tether has burned a massive $1.8 billion USDT via a single Ethereum transaction, according to data flagged by Whale Alert. The transaction permanently removed 1,799,478,900 USDT from circulation, originating directly from the Tether Treasury address.
This latest burn was a followup to a similar $2 billion USDT removal on March 1, bringing the total destroyed in recent weeks to roughly $3.8 billion and intensifying discussion about Tether’s supply management.
Why Is Tether Burning Billions in USDT?
Market watchers are speculating on the reasons behind these large-scale burns. One theory suggests it’s a strategic response by the stablecoin issuer to potentially slower demand for USDT on centralized exchanges or within DeFi protocols.
Another common belief is that these burns reflect significant redemption requests from institutional clients – something Tether itself has pointed to previously as a trigger for removing larg…
The post Why Did Tether Just Destroy Another $1.8 Billion Worth of USDT? appeared first on Coin Edition.
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Why Did Tether Just Destroy Another $1.8 Billion Worth of USDT?
- Tether burns $1.8B USDT, signals active supply control amid keen market watch
- Recent $3.8B USDT total burn may tighten crypto liquidity & impact DeFi
- Large Tether burns question stability strategy as regulators increase scrutiny
Tether has burned a massive $1.8 billion USDT via a single Ethereum transaction, according to data flagged by Whale Alert. The transaction permanently removed 1,799,478,900 USDT from circulation, originating directly from the Tether Treasury address.
This latest burn was a followup to a similar $2 billion USDT removal on March 1, bringing the total destroyed in recent weeks to roughly $3.8 billion and intensifying discussion about Tether’s supply management.
Why Is Tether Burning Billions in USDT?
Market watchers are speculating on the reasons behind these large-scale burns. One theory suggests it’s a strategic response by the stablecoin issuer to potentially slower demand for USDT on centralized exchanges or within DeFi protocols.
Another common belief is that these burns reflect significant redemption requests from institutional clients – something Tether itself has pointed to previously as a trigger for removing larg…
The post Why Did Tether Just Destroy Another $1.8 Billion Worth of USDT? appeared first on Coin Edition.
Read More
Can USDC Catch Up? Stablecoin Market Heats Up as Tether Holds the Top Spot