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Tether’s Massive USDT Minting and Its Link to Theskycomber.eth and Coin Security

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According to reports, according to Lookonchain monitoring, in the past two days, Tether has minted 3 billion USDTs on Tron and Ethereum. Among them, the address

Tethers Massive USDT Minting and Its Link to Theskycomber.eth and Coin Security

According to reports, according to Lookonchain monitoring, in the past two days, Tether has minted 3 billion USDTs on Tron and Ethereum. Among them, the address Theskycomber.eth related to Bastion Trading has received 135.3 million USDTs from Tether’s treasury in the past two days and transferred them to Coin Security.

After receiving 135.3 million USDTs from relevant addresses of Bastion Trading, all of them were transferred to Binance

Analysis based on this information:


As reported by Lookonchain, Tether, the largest stablecoin by market cap, has minted a staggering amount of USDT in the past two days. According to the data, the minted USDTs are spread across two blockchains, Tron and Ethereum. This expansion mirrors Tether’s efforts to provide USDT liquidity in various blockchain ecosystems.

One of the interesting insights from Lookonchain’s data is the involvement of Theskycomber.eth in this massive minting event. This Ethereum name service (ENS) address is linked to Bastion Trading, a crypto trading firm that allows clients to trade derivatives, cryptocurrency pairs, and digital assets. The address has received 135.3 million USDTs from Tether’s treasury in the past two days and transferred them to Coin Security, a cryptocurrency exchange that supports trading pairs with USDT.

The question raised by this event is why did Tether mint such a massive amount of USDT, and why did it send such a large portion to one trading firm? Speculation surrounding the reasons for the minting include providing liquidity for upcoming trading activities, adding USDT to the market to support market demand, or even preparing for a market downturn.

Moreover, the transfer of USDT from Theskycomber.eth to Coin Security suggests that the USDT will be used for trading with various cryptocurrencies, including Bitcoin and Ethereum. This could mean either an increase in USDT trading pairs or a liquidity boost for already existing pairs.

Regardless of the motivations, this significant increase in USDT supply may have an impact on the market. The price of Bitcoin has already shown a slight upward trend, and other cryptocurrencies could experience similar movements. Moreover, Tether’s current standing in the crypto market may enable it to influence other market players, potentially giving it a stronghold in influencing market movements.

In conclusion, Tether’s massive USDT minting and the role of Bastion Trading and Coin Security raise questions about the motivations for the minting and its potential impact on the market. The involvement of Theskycomber.eth in the chain of transactions further complicates this event’s interpretation. The implications of this massive liquidity injection are still unknown, and market participants should monitor any market movements carefully.

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