RATE Group | Tether mints 30 million new USDT tokens BTC, XRP, and ETH plummet
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Tether mints 30 million new USDT tokens BTC, XRP, and ETH plummet

24 Oct Tether mints 30 million new USDT tokens BTC, XRP, and ETH plummet

Posted at 03:40h in Cryptocurrency News by

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  • Tether’s 30 million minted USDT tokens likely to be used in pumping Bitcoin price following the drop below $7,500.
  • Ripple explores the levels towards $0.28 after $0.3 become impenetrable.

The market finally yielded to the bearish calls in the last couple of weeks. The drop seems to have been necessary as upward movement was becoming untenable. The entire crypto market flash dropped with the majority of crypto assets smashing through key support levels. In less than 24 hours the entire crypto market lost $19 billion from $223 billion to $204 billion. In the same period the negative trading volume ballooned from $57 billion to $79 billion.

Interestingly, the Tether Treasury is said to have minted 30 million USDT tokens which were transferred to Bitfinex exchange following the bloodshed. The entire process of minting was done on the Tron blockchain according to the Whale Alert. A similar incident occurred about a month ago whereby Tether Treasury minted $15…

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