Tether just minted $100 million worth of USDT; Pump or dump incoming?

16 Jun, 2019
by Will Heasman
News
Tether just minted $100 million worth of USDT; Pump or dump incoming?

According to the ever vigilant, Whale Alert, Tether just minted $100 million worth of USDT.

The printing of the major amount of Tethers didn’t go unnoticed by the crypto community who responded to the news with an equal measure of excitement and apprehension:

Some foresaw a pump incoming:

Others, not so much…

Interestingly, as reported just last week, Tether printed 150 million USDT, with CTO of Bitfinex Paolo Ardoino stating that “The USDT were created in the treasury wallet to be used to fulfill future issuance requests.”

As noted last week, new USDT is often issued when demand pushes the price over $1 with newly minted USDT entering the market soon after to keep the stablecoin… well, stable.

In essence, the more people buy Tether, the more gets issued. This means that speculation of either a pump (with investors looking to shift into BTC or alts) or a dump (with investors looking to jump out of BTC or alts) has some credence…

Do you think BTC will pump further, or will we see a dump soon? Let us know your thoughts in the comments below!

Follow Chepicap now on Twitter, YouTubeTelegram and Facebook

EXCLUSIVE: Peter McCormack: "Bitcoin will lead to less wars, less bombs, less BULLSH*T!" | Chepicap Subscribe to the Chepicap YouTube Channel for more videos!


Poll

Will we see further upside thanks to Tether?

(120 votes)

Add a comment

Check out the latest news

You will be logged out and redirected to the homepage