Tether Treasury Mints $1B USDT On Ethereum Ahead Of Anticipated FED Rate Cut
Approximately three hours ago, the Tether Treasury minted 1 billion USDT on the Ethereum network.
This minting activity comes just before the highly anticipated Federal Reserve interest rate cut, scheduled for September 17-18.
Over the past year, the Tether Treasury has issued a staggering 35 billion USDT, playing a key role in Bitcoin’s price surge from $26.6K to over $73K in March.
Historically, large USDT mintings have been linked to Bitcoin price increases or periods of price stabilization.
The #TetherTreasury minted 1B $USDT on #Ethereum ~3 hours ago.
Notably, this minting comes just ahead of the expected interest rate cut by FED on Sep 17-18.
Overall, in the past year, the Tether Treasury has issued a total of 35B $USDT, contributing to the rise of the #Bitcoin… pic.twitter.com/TYH4gtJRni
— Spot On Chain (@spotonchain) September 16, 2024
Massie Capital Inflows In The StablecoinBetween September 9 and 14, 2024, the stablecoin market saw significant capital inflows, which may once again influence Bitcoin’s price. Here’s a breakdown of the latest stablecoin market capitalization growth:
– USDT Market Capitalization Growth: Net increase of $410 million.
– USDC Market Capitalization Growth: Net increase of $743 million.
– Total Stablecoin Capitalization (USDT + USDC): Combined net increase of $1.153 billion.
Stablecoin Market Capitalization and Bitcoin Price Correlation (September 9 – 14, 2024)