Tether (USDT) Transfers New 50 Million Tokens Daily from Treasury to Support Price

The crypto bear market has made a significant return, and the primary lifeline appears to be Tether (USDT). With neither institutional investment nor retail trading able to lift cryptocurrency prices at the moment, USDT trading is playing a crucial role in maintaining price stability and ensuring market liquidity. On August 14, the Tether treasury released another tranche of 50 million tokens. It’s important to note that since June 25, no new USDT has been printed; these tokens are part of the existing supply aimed at increasing circulation.

Tether’s treasury ranks second on the list of the wealthiest entities in the crypto space, following Binance, with over 465 million tokens minted.

Interestingly, the turnover of USDT has exceeded the total supply of various cryptocurrencies, highlighting a strong demand for this stablecoin.