RATE Group | Bitcoin Price Creeps Toward $6,500 as Tether Issues $50 Million in New USDT
38650
post-template-default,single,single-post,postid-38650,single-format-standard,ajax_fade,page_not_loaded,,qode_grid_1300,side_area_uncovered_from_content,footer_responsive_adv,qode-content-sidebar-responsive,qode-child-theme-ver-1.0.0,qode-theme-ver-13.3,qode-theme-bridge,wpb-js-composer js-comp-ver-7.9,vc_responsive
 

Bitcoin Price Creeps Toward $6,500 as Tether Issues $50 Million in New USDT

13 Aug Bitcoin Price Creeps Toward $6,500 as Tether Issues $50 Million in New USDT

Posted at 16:14h in Bitcoin News by

[ad_1]


money laundering

The bitcoin price saw a slight bump on Monday, rising just under two percent to extend the market’s weekend recovery into the new week.

After trading as low as $6,109 on Saturday, bitcoin is now priced at $6,458 on Bitfinex, which translates into a $111 billion market cap.

bitcoin price
BTC/USD | Bitfinex

While there are many factors that impact bitcoin’s price movements, including unseen action on the over-the-counter (OTC) markets frequented by large-scale buyers and sellers, the weekend rally also correlated with a new issuance of USDT, the dollar-pegged “stablecoin” token created by controversial cryptocurrency startup Tether.

According to data from Omni Explorer, the Tether Treasury issued 50 million USDT on Saturday, representing an influx of $50 million into the cryptocurrency market. These new tokens, according to the Tether Rich List, were transferred to Bitfinex, representing the third time in this month alone that Tether has sent $50 million in USDT to that exchange.

tether usdt

[ad_2]

Source link

Tags:
, , , , , , , ,