Tether Treasury’s Latest $USDT Injections Stir Crypto Market Amid Chain Swaps And Bitcoin Rally
The Tether Treasury recently pumped $1.845 billion in $USDT into major crypto exchanges on Ethereum, further stimulating market activity. The allocations included $1.706 billion to Binance, $101.7 million to Coinbase, $20 million to OKX, and $17.86 million to Kraken. This injection followed Tether Treasury minting 2 billion $USDT on Ethereum and burning 1 billion $USDT on Tron. According to Tether, these mintings were used for chain swaps, so the total $USDT supply remains unchanged. https://twitter.com/lookonchain/status/1854223374534463865?t=5t7W9QV9Q0_KZ-4U-XjIiw&s=19 Additionally, after the recent election, Tether injected another 728.6 million $USDT into the market, spreading the funds across top exchanges like Kraken, Coinbase, Binance, OKX, Bybit, and Cobocom. This fresh liquidity push contributed to a surge in trading activity, especially as crypto markets continue to gain momentum. https://twitter.com/lookonchain/status/1854396090289619426?t=6PFdH-oMRYOlGHPEZ-kulw&s=19 Over $500 Million USDT Injected Into The Market In a recent report by Lookonchain, another significant injection […]