Tether Mints $3B USDT as Bitcoin Nears $100K, Fueling Market Optimism

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As Bitcoin approached the $100,000 price level, Stablecoin issuer Tether minted an additional $3 billion in USDT tokens on November 23 on the Ethereum and Tron networks amid increased trading volume in the crypto markets. Data from Arkham Intelligence revealed that $2 billion in USDt was minted on the Ethereum blockchain, and an additional $1 billion USDt was minted on the Tron network in back-to-back transactions. Notably, Tether has minted approximately $13 billion USDt since November 8, 2024. A high volume of newly minted stablecoins is regarded by many traders as a bullish sign for price action.