Tether Mints 2 Billion USDT, Market Cap Hits $170.3 Billion

The crypto market is experiencing increased demand amid speculations of US Fed rate cuts. Key developments include:

Tether minted 2 billion USDT on September 12 and 14, boosting the market cap to a record $170.3 billion.
USDT's circulating supply reached 175.7 billion tokens.
835.6 million USDT entered centralized exchanges in the last week, with 200 million USDT inflow in the past 24 hours.
Tether introduced a US-focused stablecoin, USAT.

These movements have resulted in notable investments into crypto-based US spot ETFs:

Spot Bitcoin ETFs saw a weekly net inflow of $2.34 billion.
Ethereum-based products recorded a net inflow of $637.7 million.

The total crypto market capitalization hit $4.1 trillion on September 13, while Bitcoin dominance decreased to 56% as investors shifted focus to altcoins.

However, the Coinglass altseason index surpassed the critical 75 mark, suggesting possible market overheating and signaling a potential short-term peak in altcoin rallies, often followed by corrections.