Is Bitcoin price Correlated With Tether Issuance? | Fintech Zoom

The amount of stablecoins has elevated to an unprecedented stage for the reason that begin of the 12 months. Tether’s demand is extra out of all as the corporate printed practically 1.58 billion USDT worth $1.59 billion in April solely.

There have to be a purpose why Tether is printing cash in billions in a rush. The buying and selling quantity of stablecoins is touching report values and even crossing the each day buying and selling quantity of Bitcoin. Out of all, the quantity of USDT coin is excessive, and that’s the rationale why the corporate behind USDT, Tether, is minting cash at a big scale. Within the first two weeks of April, 480 million USDT tokens minted by the corporate, which continued until April 30.

The minting of such a lot of USDT cash raised many questions as many declare Tether is controlling the crypto markets. It’s a fashionable perception that Tether’s minting of recent cash triggers the Bitcoin price upward. For instance, Tether printed 1.58…