1 Billion Tether USDT Minted on Tron Network as Bitcoin Price Rises
The cryptocurrency sector has seen a minting of $1 billion in Tether (USDT) on June 9, identified by Whale Alert on the Tron network. This minting may correlate with the recent increase in Bitcoin (BTC) prices.
USDT Minting and Bitcoin Price
Key details include:
- 1 billion USDT valued at approximately $1,000,799,999 was minted.
- The minting occurred on the Tron blockchain, indicating a growing preference for TRX-based USDT due to its speed and low costs.
- Historically, high volumes of newly minted stablecoins suggest bullish market trends.
- The BTC price reached $106,000, rising to $107,827.88, marking a 2.08% increase in 24 hours.
- Tether’s market cap remains at $156.82 billion, indicating a shift towards higher-risk assets like Bitcoin and Ethereum.
- Current total supply of USDT is 156 billion, with a trading volume of $63.83 billion.
Additionally, Tether recently transferred 10,500 Bitcoin from Bitfinex to a new address as part of pre-funding for SoftBank's investment in Twenty One Capital. Within 48 hours, several transactions linked to this project involved substantial amounts of Bitcoin.
Beyond Bitcoin: Interest in Solaxy
Solaxy, a multi-chain Layer-2 solution on Solana, is gaining traction with over $45 million raised in presale. Key points about Solaxy include:
- Current presale price is $0.00175.
- Presale ends in 7 days.
- SOLX tokens are available for purchase using ETH, USDT, BNB, and SOL.
- Launch date set for December 2024.
- Staking yield projected at 116%.
Solaxy aims to enhance scalability and reduce transaction fees within the blockchain ecosystem.