Tether Mints 100 Million USDT as Bitcoin (BTC) Price Surges Higher

The price of Bitcoin (BTC) – the world’s largest digital currency by market cap – is currently surging higher and there seems to be an increase in the demand for the digital currency. The recent rally in the price of Bitcoin (BTC) has also helped other coins to break out of their ranging cycle and strong resistance level. The price of Litecoin (LTC) also just broke over a key resistance level, the $100 mark, and Charlie Lee just announced the success of Litecoin halving 2019.

Over the past twenty-four hours, Tether has printed more than 100 million USDT. Tether is one of the most popular stablecoin firms. The minting of new USDT coins usually coincides with an increase in the price of Bitcoin (BTC), as the tokens are moved to trading platforms such as Bitfinex. iFinex Inc. owns both Tether and Bitfinex.

Tether Was Accused of Manipulating the Price of Bitcoin with USDT – Cryptocurrency Market Update

Tether (USDT) is a stablecoin that is pegged with one-to-one with the US dollar. Tether and Bitfinex were earlier accused of using the stablecoin USDT to manipulate the price of Bitcoin (BTC). The exchange has long denied the accusations of using USDT to manipulate the price of Bitcoin (BTC). Bitfinex said that the newly printed coin signifies that new money is coming into the market. Not up to one hour after the firm printed the new coins, they moved 275 million USDT tokens to an unknown wallet. Tether also received and sent back 69 million USDT from Bittrex – a digital currency trading platform.

Whales Move Truckload of Bitcoin, XRP, and Ethereum to Unknown Wallets – Cryptocurrency Market Update

While Tether is doing its own on one side, Bitcoin (BTC), Ethereum (ETH), and XRP (XRP) are also getting their share on the other side. These top three digital currencies are also experiencing whale movements as the digital currency market grows more volatile. A recent whale alert revealed that XRP tokens worth about $96 million (over 300 million XRP) were moved from Binance – the world’s most dominant crypto trading platform – to an unknown wallet.

Whale watchers also spotted the transfer of Ethereum (ETH) worth about $71.8 million (over 308,000 ETH tokens) between unknown wallets. Another transfer of Ethereum (ETH) worth $34.2 million was made from an unknown wallet to an unknown wallet. There is another similar transaction with Ethereum (ETH) worth $37.6 million.

Heavy transactions are also seen on the Bitcoin network. Bitcoin whales are popping up in mass. Whales were spotted moving Bitcoin (BTC) worth $168.6 million (over 14,500 BTC) over the past twenty-four hours. Three of the transactions were carried out among unknown wallets. The fourth transaction involves moving Bitcoin from OKEx – a top crypto trading platform – to an unknown wallet.

Among all the major digital currency movements over the past few days, none of them were moving into an exchange. All the major movements were done from trading platforms. This clearly indicates that those moving the coins are presently not interested in selling.

Bitcoin (BTC) Price Today – BTC / USD

Name Price
bitcoin
Bitcoin
$9,982.81-1.76%

Bitcoin (BTC) price has been surging higher over the past few days, leaving the altcoin market behind. The world’s most dominant digital currency just broke over the $12k level. BTC USD live price is $12,207 after an increase of about five percent over the past day. The current market cap of BTC is $218 billion. The trading volume of the digital currency over the past twenty-four hours is $23.09 billion.

Princess Ogono is a writer, lawyer and fitness enthusiast. She believes cryptocurrencies are the future. When she's not writing, she spends time with her adorable cat, Ginger and works out often.

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