More than $1 billion in Tether (USDT) was minted on the Tron network early Monday, according to Whale Alert. The exact amount minted was $1,000,799,999 USDT.
This large issuance coincided with Bitcoin’s price rallying past $106,000 after a mixed weekend, rebounding from a dip earlier in the week.
Bitcoin surged from around $105,000 to approximately $106,600 shortly after the new USDT hit the blockchain, suggesting the fresh stablecoin liquidity may have fueled the price move.
Interestingly, Tether’s market cap dominance slightly declined to 4.73%, implying that capital might be shifting from stablecoins into higher-risk assets like Bitcoin and Ethereum.
With Tether’s circulating supply nearing 156 billion USDT and a 24-hour trading volume exceeding $55 billion, the influx adds notable liquidity to the market. It remains uncertain whether this new supply will further boost Bitcoin or remain reserved as dry powder, but overall market liquidity has increased.