{"id":10931,"date":"2024-08-09T17:12:02","date_gmt":"2024-08-09T17:12:02","guid":{"rendered":"https:\/\/www.cryptometer.io\/news\/?p=10931"},"modified":"2024-08-09T17:12:04","modified_gmt":"2024-08-09T17:12:04","slug":"tether-mints-1-3b-usdt-since-market-bottom","status":"publish","type":"post","link":"https:\/\/www.cryptometer.io\/news\/tether-mints-1-3b-usdt-since-market-bottom\/","title":{"rendered":"Tether Mints $1.3B USDT Since Market Bottom"},"content":{"rendered":"\n<p>Tether, the issuer of the largest stablecoin, has minted over $1.3 billion in USDT since the market bottomed on August 5. This influx of newly minted stablecoins suggests that investors are gearing up to capitalize on lower prices, potentially signaling a buying spree.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\">Tether&#8217;s Recent Activity<\/h3>\n\n\n\n<p>Since August 5, Tether&#8217;s Treasury has created more than $1.3 billion in USDT, which has since been transferred to major centralized cryptocurrency exchanges (CEXs) like Kraken, Coinbase, OKX, and Bullish. According to an August 9 post by Lookonchain, these significant inflows of stablecoins could indicate increased buying pressure, as stablecoins often serve as the gateway for fiat currency entering the crypto market.<\/p>\n\n\n\n<p>Also Read: <a href=\"https:\/\/www.cryptometer.io\/news\/bitcoin-power-law-under-fire-experts-clash-over-its-validity\/\">Bitcoin Power Law Under Fire: Experts Clash Over Its Validity<\/a><\/p>\n\n\n\n<h3 class=\"wp-block-heading\">Is the Local Crypto Market Bottom In?<\/h3>\n\n\n\n<p>After a sharp $510 billion sell-off in the cryptocurrency market, many are wondering if the market has found its bottom. Bitcoin hit a five-month low of just above $49,500 on August 5 but has since rebounded by over 21%, trading at $60,271 as of 10:44 am UTC. The recent market recovery, alongside the $1.3 billion USDT minted, suggests that investors believe the market has hit a local bottom and are preparing to buy.<\/p>\n\n\n\n<p>Bitcoin&#8217;s next challenge lies in reclaiming the critical $64,000 to $65,000 price range, which is considered the &#8220;realized price&#8221; for short-term whale holders\u2014large entities holding significant amounts of Bitcoin. This range is currently acting as a resistance level. If Bitcoin can break through this barrier, it could signal a new upward trend. However, failure to do so may result in continued volatility.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Tether, the issuer of the largest stablecoin, has minted over $1.3 billion in USDT since the market bottomed on August 5. This influx of newly minted stablecoins suggests that investors are gearing up to capitalize on lower prices, potentially signaling a buying spree. Tether&#8217;s Recent Activity Since August 5, Tether&#8217;s Treasury has created more than [&hellip;]<\/p>\n","protected":false},"author":5,"featured_media":10238,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[259],"tags":[],"class_list":{"0":"post-10931","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-altcoins"},"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v26.2 (Yoast SEO v27.2) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Tether Mints $1.3B USDT Since Market Bottom<\/title>\n<meta name=\"description\" content=\"Tether, the issuer of the largest stablecoin, has minted over $1.3 billion in USDT since the market bottomed on August 5. This influx of newly minted\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.cryptometer.io\/news\/tether-mints-1-3b-usdt-since-market-bottom\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Tether Mints $1.3B USDT Since Market Bottom\" \/>\n<meta property=\"og:description\" content=\"Tether, the issuer of the largest stablecoin, has minted over $1.3 billion in USDT since the market bottomed on August 5. This influx of newly minted\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.cryptometer.io\/news\/tether-mints-1-3b-usdt-since-market-bottom\/\" \/>\n<meta property=\"og:site_name\" content=\"CryptoMeter.io\" \/>\n<meta property=\"article:published_time\" content=\"2024-08-09T17:12:02+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2024-08-09T17:12:04+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.cryptometer.io\/news\/wp-content\/uploads\/2024\/07\/Tether.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"800\" \/>\n\t<meta property=\"og:image:height\" content=\"478\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Raj Sharma\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@CryptoMeterIO\" \/>\n<meta name=\"twitter:site\" content=\"@CryptoMeterIO\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Raj Sharma\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"NewsArticle\",\"@id\":\"https:\/\/www.cryptometer.io\/news\/tether-mints-1-3b-usdt-since-market-bottom\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.cryptometer.io\/news\/tether-mints-1-3b-usdt-since-market-bottom\/\"},\"author\":{\"name\":\"Raj Sharma\",\"@id\":\"https:\/\/www.cryptometer.io\/news\/#\/schema\/person\/bbfe4a2efa58e681b4208612112f3149\"},\"headline\":\"Tether Mints $1.3B USDT Since Market Bottom\",\"datePublished\":\"2024-08-09T17:12:02+00:00\",\"dateModified\":\"2024-08-09T17:12:04+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/www.cryptometer.io\/news\/tether-mints-1-3b-usdt-since-market-bottom\/\"},\"wordCount\":259,\"publisher\":{\"@id\":\"https:\/\/www.cryptometer.io\/news\/#organization\"},\"image\":{\"@id\":\"https:\/\/www.cryptometer.io\/news\/tether-mints-1-3b-usdt-since-market-bottom\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/www.cryptometer.io\/news\/wp-content\/uploads\/2024\/07\/Tether.jpg\",\"articleSection\":[\"Altcoins\"],\"inLanguage\":\"en-US\",\"copyrightYear\":\"2024\",\"copyrightHolder\":{\"@id\":\"https:\/\/www.cryptometer.io\/news\/#organization\"}},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.cryptometer.io\/news\/tether-mints-1-3b-usdt-since-market-bottom\/\",\"url\":\"https:\/\/www.cryptometer.io\/news\/tether-mints-1-3b-usdt-since-market-bottom\/\",\"name\":\"Tether Mints $1.3B USDT Since Market Bottom\",\"isPartOf\":{\"@id\":\"https:\/\/www.cryptometer.io\/news\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/www.cryptometer.io\/news\/tether-mints-1-3b-usdt-since-market-bottom\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/www.cryptometer.io\/news\/tether-mints-1-3b-usdt-since-market-bottom\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/www.cryptometer.io\/news\/wp-content\/uploads\/2024\/07\/Tether.jpg\",\"datePublished\":\"2024-08-09T17:12:02+00:00\",\"dateModified\":\"2024-08-09T17:12:04+00:00\",\"description\":\"Tether, the issuer of the largest stablecoin, has minted over $1.3 billion in USDT since the market bottomed on August 5. 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