Tether Mints 2 Billion USDT on Ethereum and Transfers 500 Million to Binance: Key Updates from BlockBeats

WikiBit 2024-11-07 03:40

On November 6th, COINOTAG News reported a significant development in the stablecoin market, with Tether minting an impressive 2 billion USDT on the

On November 6th, COINOTAG News reported a significant development in the stablecoin market, with Tether minting an impressive 2 billion USDT on the Ethereum network.

In a remarkable move, Tether also transferred 500 million USDT to Binance within just 30 minutes. This rapid action aligns with Tethers recent announcement regarding on-chain conversions.

The firm stated its intention to collaborate with third-party trading platforms to facilitate the transfer of USDT across various blockchains to ETH-based USDT.

Importantly, Tether clarified that this operational maneuver will not affect the overall supply of USDT.

Observers within the crypto sphere note that these strategic shifts could enhance liquidity and encourage broader usage of stablecoins in decentralized finance (DeFi) ecosystems.

Stakeholders are keenly watching how these adjustments will impact market dynamics in the coming days.

Disclaimer：

The views in this article only represent the author's personal views, and do not constitute investment advice on this platform. This platform does not guarantee the accuracy, completeness and timeliness of the information in the article, and will not be liable for any loss caused by the use of or reliance on the information in the article.

Related exchange