Tether Mints $1 Billion in USDT as Crypto Market Cap Reaches $3.90 Trillion

Tether Minting Increases Crypto Market Liquidity

Tether minted 1 billion in USDT on Wednesday, contributing to increased liquidity in the crypto market. Key points include:

Total crypto market cap rose from approximately $3.80 trillion to $3.90 trillion.
Bitcoin traded around $112,300 and Ether near $4,600.
The minting often indicates available cash for quick deployment into exchanges.
The issuance is seen as a potential source of fresh buying power for altcoins.

Recent data shows:

Addresses holding at least 1,000 BTC rose by 13 to about 2,085 since early August.
Wallets with at least 10,000 ETH increased by 48 to roughly 1,270.
US spot Ether ETFs experienced a net inflow of about $450 million, primarily driven by BlackRock’s ETHE.

Cumulative inflows into spot Ether ETFs reached nearly $13.30 billion, while Bitcoin ETFs gained about $88 million. The newly minted USDT could facilitate purchases in Ether and other altcoins, aligning with the shift from Bitcoin to alternative assets.

Market Dynamics

Indicators of demand include whale accumulation and stablecoin supply increases. A rise in stablecoin availability allows faster transactions, enhancing market activity. Analysts are monitoring these factors to assess the sustainability of capital rotation into altcoins.

The recent minting signals added spending power during a market rebound, potentially fueling altcoin demand rapidly.