Tether, the issuer of the world’s largest stablecoin USDT, has minted its second billion tokens on the Ethereum blockchain in less than two months.
The stablecoin issuer said the new mint is part of its “stock replenishment” plan to ensure stablecoin liquidity across all chains. Among other cryptocurrency developments, Tradecurve has been building momentum as investors flock to the new trading platform, which has the potential to reignite interest in the DeFi space.
Tether mints an additional $1 billion in USDT
Tether’s treasury has announced the minting of $1 billion in tokens on the Ethereum blockchain, just two months after minting a separate $1 billion token. Stablecoin issuers have now minted over $16 billion worth of USDT tokens so far in 2023. Tether remains the most dominant dollar-pegged stablecoin with a market cap of $83 billion.
Announcing the latest minting, Tether’s CTO Paolo Ardoino explained that the tokens were minted for on-chain exchange, not because of increased interest in buying digital assets. A chain swap is the process of sending a digital asset (USDT in this case) from one blockchain network to another — bridging assets across multiple blockchains.
After minting, on-chain data showed that Tether’s treasury sent $750 million worth of USDT to Binance in an on-chain swap transaction. Tether Treasury sent the funds in three batches of $250 million in transactions following an initial $10 test transaction, according to popular blockchain analytics firm Arkham Intelligence.
The analytics firm later reported that of the $1 billion in new tokens minted, only $146 million remained on the ethereum blockchain, as other tokens were swapped for USDT on other chains.
Tradecurve (TCRV) price will touch $0.018
As Tether’s dominance in the stablecoin space continues to grow, Tradecurve is gaining traction in the decentralized finance (DeFi) space. Tradecurve is building the first DeFi platform, and its users will have the opportunity to trade cryptocurrencies and derivatives (such as stocks, forex, options, and commodities) from a single account.
Experts are bullish that the price of Tradecurve (TCRV) could easily jump above the current price of $0.018 due to the size of the derivatives market. The BIS reports that the over-the-counter (OTC) derivatives market will grow to $632 trillion in June 2022.
The bullish forecast for Tradecurve’s price comes from the platform’s potential to connect the cryptocurrency market with the global derivatives market.
Experts believe that the Tradecurve platform may reignite interest in the DeFi space, as cryptocurrency traders will no longer need to open multiple accounts to trade global financial instruments.As more and more traders enter the Tradecurve ecosystem, experts predict that the price of TCRV may change from $0.018 Gundam $1.5 By the end of 2023.
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