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Tether Increases Its Supply with 1 Billion USDT on the Ethereum Blockchain

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According to the report, the data of block browser shows that on March 4, at 18:31 (UTC+8), Tether issued an additional 1 billion USDT on the ETH chain. The tr…

Tether Increases Its Supply with 1 Billion USDT on the Ethereum Blockchain

According to the report, the data of block browser shows that on March 4, at 18:31 (UTC+8), Tether issued an additional 1 billion USDT on the ETH chain. The transaction hash is 0x6ee9ea768ebc29daad9396b5d54a8b6510389b6261458a88adf8a0ed8ed4c11a.

Tether issued an additional USD1 billion on the ETH chain, which is a chain change operation

Analysis based on this information:


Tether has made another move to increase its supply by issuing an additional 1 billion USDT on March 4, at 18:31 (UTC+8) on the Ethereum blockchain. The data of the block browser showed that the transaction hash for this move is 0x6ee9ea768ebc29daad9396b5d54a8b6510389b6261458a88adf8a0ed8ed4c11a.

Tether is a stablecoin pegged to the US dollar and it is one of the most popular stablecoins in the crypto space. It is often used as a gateway between fiat currency and cryptocurrencies due to its stability and liquidity. The supply of Tether has been growing steadily in recent times, with the coin’s market cap now exceeding $40 billion.

The increase in the supply of Tether coincides with the recent bullish market trend in the cryptocurrency space. The world’s most popular cryptocurrency, Bitcoin, has recently hit new all-time highs, and other cryptocurrencies have also seen significant growth in their prices. With this new move by Tether, there might be anticipation of more trading activities.

The issuance of the additional 1 billion USDT on the Ethereum chain shows a growing preference for the Ethereum network in the crypto space. Ethereum is currently the most popular blockchain network for decentralized applications (dApps) and it is increasingly being used for various purposes in the crypto space.

While the issuance of more Tether coins may lead to questions about the credibility of the stablecoin, the company has consistently assured the public that the coins are backed by real-world assets. Tether is even undergoing a third-party audit to prove its claim.

In conclusion, the recent move by Tether to increase its supply with an additional 1 billion USDT on the Ethereum blockchain is significant in the growing preferences for Ethereum among blockchains. Moreover, this move could signify an anticipation of more trading activities in the cryptocurrency space.

Overall, the increase in supply could help facilitate more purchases of cryptocurrencies and further drive more adoption. However, it remains to be seen what the impact of this new move will be on the cryptocurrency market.

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