1. PixelPlaygroundHome
  2. Metaverse Insights

Tether Issues 1 Billion USDTs on Ethereum, But It’s Not Marketed Yet

• Metaverse Insights • 107 views

Tether Issues 1 Billion USDTs on Ethereum, But Its Not Marketed Yet

According to reports, according to Whale Alert data, the stable currency issuer Tether issued 1 billion additional USDTs on the Ethereum network at 2:35:59 Beijing time on March 17. Tether Chief Technology Officer Paolo Ardoino added that this is an authorized but not issued transaction on the Ethereum network, which means that this additional issue will be used for the next release request and on-chain interaction.

Tether issues 1 billion additional USDTs on the Ethereum network

Analysis based on this information:


Tether, the stable currency issuer, has recently released an additional 1 billion USDTs on Ethereum, adding to the already significant circulation of the stablecoin. According to Whale Alert’s data, the transaction took place on March 17th at 2:35:59 Beijing time, which indicates that Tether may be preparing for an upcoming release request and on-chain interaction.

Tether has been known to have large balances of USDT in reserve, and this additional issue of 1 billion USDTs demonstrates their capability and capacity to handle a significant amount of financial transactions. In general, Tether aims to provide a stable price for digital assets, thereby reducing volatility and allowing investors to trade with more flexibility.

Moreover, the company’s Chief Technology Officer, Paolo Ardoino, clarified that the 1 billion USDT issuance was authorized, but not yet issued or marketed. This means that these USDTs may not influence the market value of the stablecoin until Tether decides to sell them or distribute them to clients.

Despite the company’s recent legal troubles, Tether’s popularity continues to grow as the world accepts cryptocurrency into mainstream use. Tether has always been considered one of the most popular stablecoins, primarily due to its commitment to ensuring stability and transparency throughout its operations. Nevertheless, it is noteworthy that the USDT issuance has been the subject of much scrutiny from the industry, and many have raised concerns about its potential implications.

In conclusion, the issuance of 1 billion USDTs by Tether on the Ethereum network is a significant step for the stablecoin, as it continues to grow and cement its position as one of the most reliable and resilient cryptocurrencies on the market. While concerns about the stablecoin’s future will continue to persist, Tether’s commitment to transparency, and stability will undoubtedly prove beneficial as it navigates new challenges in the world of cryptocurrency.

This article and pictures are from the Internet and do not represent Fpips's position. If you infringe, please contact us to delete:https://www.fpips.com/6499/

It is strongly recommended that you study, review, analyze and verify the content independently, use the relevant data and content carefully, and bear all risks arising therefrom.

Like (0)
Previous 03/17/2023 00:34
Next 03/17/2023 01:01

Recommended articles