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.
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.
Over $500 Million USDT Injected Into The Market
In a recent report by Lookonchain, another significant injection of $565 million $USDT has been confirmed, further underscoring Tether’s influence in sustaining market liquidity.
Over the past year, Tether has issued a staggering 37 billion $USDT on both Ethereum and Tron networks, which has helped drive the price of Bitcoin to an all-time high of $76,200.
With these substantial USDT infusions and a record-breaking Bitcoin price, Tether Treasury’s activities highlight its critical role in maintaining liquidity across exchanges and supporting Bitcoin’s rally. Market watchers are keeping a close eye on the broader implications for the crypto sector, as Tether’s continued involvement in liquidity injections may shape future price trends across digital assets.
Disclosure: This is not trading or investment advice. Always do your research before buying any Metaverse crypto coins.