- Tether mints $960,000,000 this month
Update: Tether just minted an additional $189,000,000, bringing the total to $1,149,000,000,000, more than the entire market cap of Monero.
Tether mints another $240,000,000 Monday morning, bringing the monthly total to $960,000,000, surpassing the entire market cap of TRON.
Following many of the recent Tether mint over the last few months, Paolo Ardoino, Tether CTO, has been quick to tweet in defense of the new tokens.
PSA: 120M USDt inventory replenish.
Note this is a authorized but not issued transaction, meaning that this amount will be used as inventory for next period issuance requests.Paolo Ardoino (Tether CTO)
Ardoino has been using the same exact tweet for months, mentioning that this amount will be used as inventory to cope with future demand.
However, Ardoino is yet to reply to the most recent Tether mint, leaving many questions unanswered.
Tether is the largest stablecoin by market cap. However, Tether’s last external audit, per their website, was in 2018, when the market cap was well under $3 billion.
Tether’s mints have also been following Bitcoin price movements. Tether minted $960,000,000 in tokens this month as Bitcoin’s volatility remains high after March’s crash.
Tether Market Cap Surpasses Ripple
After minting just shy of $1 billion in USDT tokens this month, Tether’s market cap is now larger than fintech giant, Ripple. As reported by The Crypto Associate, the stablecoin has now overtaken Ripple as a top 3 cryptocurrency.
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