Tether prints $5 billion USDT in 5 days adding bull run market liquidity

Tether has minted $5 billion worth of the USDT stablecoin over the past week amid Bitcoin’s rally near the $90,000 milestone.

Data from blockchain analytics platform SpotOnChain reveals that Tether began this series of USDT issuances with $1 billion minted on Nov. 6, contributing to Bitcoin’s climb to a record high of $76,200.

The firm then issued another $2 billion USDT across Nov. 9 and 10, propelling Bitcoin past the $80,000 mark. Earlier today, Tether added another $2 billion USDT, bringing the total issuance over five days to $5 billion.

This minting spree has boosted Tether’s market cap to around $124 billion, further cementing its position as the leading stablecoin in the crypto market.

As the dominant dollar-pegged stablecoin, USDT is pivotal in crypto trading, supporting liquidity across centralized and decentralized exchanges. Data from CryptoSlate shows that USDT remains one of the most frequently traded assets, with a 24-hour trading volume approaching $289 billion.

Meanwhile, this recent increase in USDT supply aligns with a broader market upswing, reflecting growing optimism and trader confidence. Historically, a rise in USDT circulation correlates with gains in major cryptocurrencies like Bitcoin and Ethereum.

So, as this latest expansion in supply has unfolded, Bitcoin’s price has reached new all-time highs of nearly $90,000, buoyed by market optimism about Donald Trump’s return to the US presidency.

Wallet development kit

USDT’s increasing supply coincides with Tether launching an open-source wallet development kit (WDK) to streamline non-custodial wallet integration for websites and applications.

Tether described the WDK as a modular, open-source toolkit that empowers businesses and developers to integrate non-custodial wallet functionality. This toolkit supports human users and emerging digital entities like AI agents, robots, and autonomous systems.

The WDK is fully self-custodial, enabling developers to create sophisticated mobile, desktop, and web wallets.

Tether CEO Paolo Ardoino said the product would allow users to control their financial destiny through “programmable, open, and resilient monetary systems that connect people, machines, robots, families, communities, AI agents, societies, and even planets.”

He added:

“WDK by Tether is focusing on open-source, super-modular, highly scalable and battle tested development libraries that are easy to integrate on any platform, from embedded devices to mobile, from laptop apps to websites, from AI agents to robotic brains.”

The post Tether prints $5 billion USDT in 5 days adding bull run market liquidity appeared first on CryptoSlate.

  • Related Posts

    Strategy increases Bitcoin holdings to 499,226 BTC with small $10.7 million purchase

    Strategy, previously known as MicroStrategy, has increased its Bitcoin reserves with a fresh acquisition of 130 BTC. According to a March 17 filing with the US Securities and Exchange Commission…

    Continue reading
    US exodus drives crypto ETP outflows to record $6.4B but XRP defies downturn

    Investment in crypto exchange-traded products (ETPs) took a heavy hit last week, with outflows reaching $1.7 billion, according to the latest CoinShares report. This marks the fifth consecutive week of…

    Continue reading

    Leave a Reply

    Your email address will not be published. Required fields are marked *

    You Missed

    Strategy increases Bitcoin holdings to 499,226 BTC with small $10.7 million purchase

    Strategy increases Bitcoin holdings to 499,226 BTC with small $10.7 million purchase

    US exodus drives crypto ETP outflows to record $6.4B but XRP defies downturn

    US exodus drives crypto ETP outflows to record $6.4B but XRP defies downturn

    South Korea snubs Bitcoin reserve as North Korea hoards BTC through cyber crime

    South Korea snubs Bitcoin reserve as North Korea hoards BTC through cyber crime

    OKX suspends Web3 aggregator amid probe into $100M Bybit hack laundering links

    OKX suspends Web3 aggregator amid probe into $100M Bybit hack laundering links

    Bitcoin whale stirs market with $450M short position on Hyperliquid

    Bitcoin whale stirs market with $450M short position on Hyperliquid

    France central bank governor says Trump is “sowing the seeds of future upheavals” by supporting crypto

    France central bank governor says Trump is “sowing the seeds of future upheavals” by supporting crypto