HomeCryptoAltcoin$50 million new Tether tokens on the market

$50 million new Tether tokens on the market

Tether (USDT), the stable coin owned by Bitfinex, has issued $50 million new Tether tokens on August 11, according to OmniExplorer data.

As it is a stable coin with a value of 1 token = $1, it means there are new 50 million USDT on the market.

According to Coinmarketcap charts, Tether’s market capitalization lost around $300 million in less than a month, hitting a value of $2.4 billion.

However, Tether is now second after bitcoin in terms of daily trading volumes thanks to $4.2 billion traded in only one day (28.16% of all crypto trades), while bitcoin’s volume in 24 hours is $5.7 billion (38.62%).

Still criticism around Tether, but not today

There is always criticism around this stable coin.

On June 25th, Tether released 250 million tokens, and there was who saw in it the cause of the bitcoin jump. Also, there is a University of Texas study that accused Tether to be behind the manipulation of the bitcoin price throughout 2017.

Amelia Tomasicchio
Amelia Tomasicchiohttps://cryptonomist.ch
Esperta di digital marketing, Amelia inizia a lavorare nel settore fintech nel 2014 dopo aver scritto la sua tesi di laurea sulla tecnologia Bitcoin. Precedentemente è stata un'autrice di diversi magazine crypto all'estero e CMO di Eidoo. Oggi è co-founder e direttrice di Cryptonomist, oltre che Italian PR manager per l'exchange Bitget. E' stata nominata una delle 30 under 30 secondo Forbes. Oggi Amelia è anche insegnante di marketing presso Digital Coach e ha pubblicato un libro "NFT: la guida completa'" edito Mondadori. Inoltre è co-founder del progetto NFT chiamati The NFT Magazine, oltre ad aiutare artisti e aziende ad entrare nel settore. Come advisor, Amelia è anche coinvolta in progetti sul metaverso come The Nemesis e OVER.
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