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USDT circulating supply returned to growth after three months of decline, currently at $66.3 billion



Time:8/3/2022 2:55:16 AM

[USDT circulating supply resumes growth after three months of decline, currently at $66.3 billion] According to news on August 3, Tether (USDT) circulating supply began to increase after nearly three months of decline, which may be a sign of the crypto market A sign of a slow recovery.

According to CoinMarketCap data, the first minting in nearly three months occurred last Friday, and three more have since occurred, most recently on Tuesday. The scale is small, however, boosting USDT’s market capitalization by only 0.7%, or just under $500 million.

According to the Tether transparency report, the current USDT circulation is 66.3 billion US dollars, with a total market share of about 43%.

In early May, the USDT supply reached an all-time high of more than $83 billion. The collapse of the Terra ecosystem, the resulting crypto market pass-through effect, and large-scale redemptions have led to a reduction in the circulating supply of USDT. At the end of July, the circulating supply fell by 21% to a low of 65.8 billion US dollars. (Cointelegraph)

Other news:

Coinbase Pro postponed USDT trading until April 28th, Beijing time: According to Coinbase Pro’s official Twitter, Coinbase Pro postponed the launch of USDT trading activities due to persistent problems with the platform’s API and failed to meet liquidity standards. Trading will begin after 6:00 pm PST on April 27th (9:00 am Beijing time on April 28th). Previously, Coinbase issued an announcement on April 23, saying that it would launch the stable currency USDT on April 26, Pacific time, and encouraged users to transfer USDT from Coinbase to Coinbase Pro. As of now, Coinbase only supports ERC-20 USDT. [2021/4/27 21:02:26]

PAX Treasury issued an additional 6.829 million BUSD on the Ethereum network: Jinse Finance reported that Whale Alert data showed that at 00:25 on September 16, Beijing time, PAX Treasury issued an additional 6,829,153 BUSD on the Ethereum network, and the hash of the additional issuance was 0x229d9e950da28012ac750d2d20f31b913aca9d8034e4118a. [2020/9/16]

The price of USDT on Huobi Pro has risen above 6.8CNY: According to Huobi Pro’s off-site trading, the price of USDT has risen above 6.8CNY, with the price of buying at 6.82CNY and the price of selling at 6.84CNY, with an off-market premium of about 8%. Compared with the over-the-counter premium on January 24, it has rebounded. [2018/1/26]

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