Reading Time
~ 2 minutes
Spread the Word

Tether (USDT) expanded its supply by 250 million tokens, and this is not yet the end, because the platform’s printing wallet is still open.

After the launch of another 250 million tokens, the total supply of USDT amounted to over $ 2.85 billion worth of cryptocurrency, influencing to a larger extent the crypto market.

The USDT’s share increased by over 22% compared to the period before the latest printing. Of the total USDT transactions, around 30% were used in pair with Ethereum (ETH).

ALERT: Tether has just granted 250,000,000 USDT”- This is a tweet posted by FOMO Bot on 25th June.

The announcement received both positive and negative reactions within the Tether community.

Currently, we cannot say with certainty how the new USDT will be spread. After the Tether’s printing in the third quarter of 2017, the Bitcoin price (BTC) increased considerably. Now, however, it is supposed that the supply will help EOS as well as other altcoins to increase its range of use.

According to CoinMarketCap, USDT ranks 10th due to the high volume of transactions. The crypto asset detonated even TRON, Monero, NEO, DashEthereum Classic. In the last 24 hours, Tether recorded sales of $ 4,333,130,000, being traded at $ 1.00.

Online information indicates that the Tether platform owns financial resources for at least 2.5 billion tokens. However, it is not known whether funds from the bank account followed USDT printings or they were obtained over time on a sales basis.

After the last printing in May, prices fluctuated weekly, influencing even BTC to fall below $ 6,000. Even so, the recent issue of USDT offers the crypto community hope of a potential crypto market pick up.

Read more articles related to this subject:
Notice: The information in this article and the links provided are for general information purposes only and should not constitute any financial or investment advice. We advise you to do your own research or consult a professional before making financial decisions. Please acknowledge that we are not responsible for any loss caused by any information present on this website.