0
67

In a bold move, Tether has minted one billion dollars in USDT, unleashing a frenzy of activity in the crypto market. As a result, the bull momentum is underway, redefining the financial landscape. Let’s see all the details below. 

The crypto giant Tether issues 1 billion dollars in USDT in the market  

As anticipated, Tether, the stablecoin giant, has recently minted a huge sum, precisely 1 billion USDT, creating movement in the crypto market. 

This bold move has sparked great excitement among investors, fueling the bullish trend of the market. Furthermore, the increasing adoption of cryptocurrencies is reflected in this Tether initiative, which has added liquidity and flexibility to the system.

The announcement has captured the enthusiasm of optimistic investors, who see the increase in USDT as a signal of confidence in the market. Experts predict a significant influence on the bull market dynamics, with a positive impact on major cryptocurrencies.

This event not only raised the value of Tether, but also amplified the general interest towards the crypto ecosystem. 

In other words, with 1 billion USDT in circulation, the market is buzzing, suggesting an acceleration of growth and an expansion of investment opportunities in the near future.

Tether partners with the Republic of Uzbekistan: regulation and blockchain innovation

Tether has recently announced a collaboration with the Republic of Uzbekistan to contribute to the regulation of cryptocurrencies. 

The agreement, established through a memorandum of understanding with the National Agency for Future Projects of the Republic of Uzbekistan, will see Tether committed to the development of a legal framework and regulatory policies for cryptocurrencies in Uzbekistan. 

The company will also be involved in facilitating the development and implementation of Uzbekistan’s digital currency.

In a statement, Tether highlighted the strategic significance of this collaboration with the National Perspective Projects Agency (NAPP), the entity responsible for the regulation and development of cryptocurrencies in the country of Central Asia. 

The main goal is to position Uzbekistan as a key center for peer-to-peer technology and blockchain, catalyzing an era of innovation and economic growth.

This initiative reflects Tether’s global commitment to building resilient cities and nations around the world.

The CEO of Tether, Paolo Ardoino, emphasized the enthusiasm for this partnership, highlighting the vast potential of blockchain, stablecoins, and peer-to-peer technology in Uzbekistan.

This collaboration aims not only to explore and promote the development and adoption of emerging technologies, but also to stimulate economic growth and innovation in the region. 

Ardoino concluded by stating that this alliance represents Tether’s commitment to responsible development and innovation on a global level.

USDT: over 100 billion dollars in market capitalization

The stablecoin Tether (USDT) has recently reached another important milestone, surpassing 100 billion dollars in market capitalization.

This further consolidates its leadership position compared to its closest competitor, USD Coin (USDC).

According to a recent communication from Tether, the market capitalization of USDT has exceeded 100 billion dollars, temporarily reaching its all-time high on March 4th, as reported by CoinGecko.

While the milestone of 100 billion has been reached on CoinGecko, other sources like CoinMarketCap still have to confirm it, as market capitalization fluctuates based on current price and circulating supply.

The surge in market capitalization has seen USDT record a 9% growth since the beginning of the year, widening the gap with USD Coin. Currently, USDT surpasses USDC, issued by Circle, by over 71 billion dollars. 

It should be noted that even USDC has seen a significant increase in its market capitalization over the course of the year.

The stablecoin Tether is designed to maintain a constant value of $1, often serving as a means to move funds in cryptocurrencies, avoiding the wild price fluctuations of other cryptocurrencies. 

Recently, USDT has been traded up to $1.0020, signaling an increase in demand from investors looking to take advantage of the rise of Bitcoin, using USDT to exchange fiat currency for cryptocurrency.

Justin D’Anethan, Business Development Manager for Asia Pacific at Keyrock, emphasized that traders were willing to pay a premium on the Tether stablecoin to execute their orders. 

D’Anethan explained that, despite the ongoing anxiety about the legitimacy of Tether, the stablecoin has stood the test of time without fully disclosing its reserves and balance. It is no coincidence that the vast majority of cryptocurrency pairs are denominated in USDT.