What does the 5 billion issuance of USDT mean (continuous issuance of USDT)?
What does the issuance of 5 billion USDT mean? On November 18, 2019, when the Bi
What does the issuance of 5 billion USDT mean? On November 18, 2019, when the Bitcoin block height was 170,000, Bitfinex and Tether announced that they would conduct a new round of issuance by 50% (about 1.5 million tokens) of the total supply of USD (USDT tokens already issued) in the Ethereum network.
This time it is USD (original US dollars). The new trading pair is called USDT-ERC20. Users can deposit and withdraw these digital currencies through various stable coins such as USDS/ETH, USDC, DAI/WBTC, etc. If this function is used, it means that USD has become a global stable market and can be used as a means of conversion between fiat currency and other cryptocurrencies.
Continuous issuance of USDT
According to CoinDesk, USDT has been continuously issued recently. According to Bitfinex’s data, the current total market value of USDT is 3.16 billion US dollars, which has increased by more than 400% in less than three months, with a price increase from 1 US dollar to nearly 20,000 US dollars, an increase of more than 90%.
According to data statistics from CoinMarketCap, USDT has had a net inflow for the fourth consecutive month as of October, while the outflow of funds in the first four trading days was only about 5 million US dollars. Previously, Coinbase and Kraken provided Bitcoin loan services to investors at a rate of 15 cents, 1 euro, 3 pounds, and 5 Australian dollars per transaction, enabling users to convert their assets into other stable coins to maximize investment returns.
This article and pictures are from the Internet and do not represent aiwaka's position. If you infringe, please contact us to delete:https://www.aiwaka.com/2023/08/12/what-does-the-5-billion-issuance-of-usdt-mean-continuous-issuance-of-usdt/
It is strongly recommended that you study, review, analyze and verify the content independently, use the relevant data and content carefully, and bear all risks arising therefrom.
Recommended articles
-
Thailand Cybercrime Bureau Warns Investors of Cryptocurrency Scams
It is reported that after hundreds of victims complained online, the Thailand Cybercrime Investigation Bureau (CCIB) warned investors to be wary of cryptocurre…
-
Bitcoin Miner, Bitdeer Goes Public on Nasdaq and Drops by 30%
According to reports, Bitcoin miner Bitdeer went public on NASDAQ today. On the first day of trading, the stock price of the miner with stock code BTDR fell by
-
What applications does Ethereum have? (What practical value does Ethereum have?)
What applications does Ethereum have? In the field of blockchain, besides Bitcoi
-
Alchemy’s new tool to boost Web3 Application Development
It is reported that Alchemy, the Web3 development platform, will release a new tool to help developers create Web3 applications faster. Elan Halpern and Vitto …
-
Understanding the Current State of the Bitcoin Network
It is reported that according to BTC.com data, the number of unconfirmed transactions across the Bitcoin network is 24982, the network computing power is 307.41
-
What currency is an inch (how big is an inch)
What currency is an inch, what currency is an inch, a foot is a type of digital
-
The Relationship Between BTT and TRX
The relationship between BTT and TRX has many similarities in the recent past. H
-
Blur Emerges as a Strong Contender in the NFT Market
On February 22, the data showed that the trading volume of Blur in the NFT market reached about 108 million US dollars in the past 24 hours, with a month-on-mo…
-
Table of Contents
According to reports, Dune data shows that more than 650 million Arbitrum Tokens (ARBs) have been claimed, accounting for 55.94% of the air drop supply. The num
-
#TinyTap Partners with Open Campus to use EDU Tokens on Their Platform
On April 21st, it was announced that TinyTap had reached a partnership with Open Campus and would use EDU tokens as TinyTap platform tokens. Previously, it was