Tether Has a Field Day with 125 Million USDT Minted

As we reporter earlier, Thursday came with an active USDT printing of 50 million USDT- but that was not the whole story. A few hours later, just before the most active hours on the US markets, another three tranches of 25 million tokens were minted.

Today's USDT Watch:

Another 50 Million USDT to Hit the Markets Soon

This brings the day's total to 125 million USDT, and the total supply of Tethers closer to one billion.

The operation of a simple send has turned a part of the new tokens to Bitfinex. But even the previous issues already lifted the activity of the USDT/BTC trading pair.

The entire USDT supply was lifted to 939,017,348 with record trading volumes of $2.3 million in 24 hours. The price of USDT has also expanded beyond $1 and the new tranches lowered it a bit toward the target.

For a while, trading in the USDT/BTC pair went ahead of the activity on the Korean markets, but shrank back to 21 million BTC per day.

As more USDT are printed, it is becoming more clear how the availability of tokens distorts the BTC price. With BTC trading volumes at robust $13 billion in the past 24 hours, the USDT volume is easily one-sixth of trading.

However, the price of BTC on exchanges using USDT is significantly lower now, and extra liquidity may be required to regain confidence.

The community reactions are getting worse, as the printing of USDT accelerates:

“Exhausted.. 😫I just gave birth to another 50,000,000 USD Tether in the past 4 hours. That's 100,000,000 USD Tethers that I've sent to@Bitfinexin the past 24 hours to save Bitcoin. Stop selling!”

Despite the efforts, BTC has fallen to $16,680.40, dragging down other digital assets as well. The next few hour would show the effect of USDT on the Bitcoin price, as the market sentiment has changed.