USDT issued 500 million Tether in the birth of a bull market or self-destruction

USDT issued 500 million Tether in the birth of a bull market or self-destruction

Up to now, Tether has issued ERC20 USDT on the Ethereum network for the fifth time this month, and the total circulation has reached 400,010,000.

According to the PeckShield situational awareness platform data: At 0:32 on April 26, Tether added a USDT of USD100 million in the Ethereum network with a block height of 7637646 and a transaction hash value of 0xc123b8d37c42b9f92ecf0fcdc0573cfd455864a5211d706beca7a3bda961e620.

According to PeckShield situational awareness platform data, on April 24 (last night) at 19:55, Tether added a new US$70 million ERC20 USDT to the Ethereum network (0xf4b51b14b9ee30dc37ec970b50a486f37686e2a8) with a block height of 7,629,963 and a transaction hash value. Is: 0x925cdcb53a60cf9b7fc2e5a3ceb0e50b2a39eb8c30e9c8d0dfdad05958087c8c. This is also the fourth time since April that USDT has issued ERC20 USDT on the Ethereum network, with an additional total of 240 million USDT. Up to now, the total circulation of ERC20 USDT has reached 300,010,000 pieces, exceeding USDC and TUSD, occupying the first place in the emerging stable currency market, accounting for 8.52% of the total stable currency market.

On April 25, according to PeckShield situational awareness platform data, at 0:09 this morning, Tether officially added a new $49.9 million TRC20 USDT on the TRON network and forwarded it to TAyAA1xjZGyjQYP8UHp5qFtRcLgUG2XnPi with a block height of 8663365. The transaction hash value is: b50772dd61fb2700e474aec2f3a98a4f24379c5aff8c1cabbe90d7fbcdb32473. Since Tether announced cooperation with the Wavefield Foundation in March, Tether has issued a total of 99,901,010 TRC20 USDTs to the wave field network.

USDT issued 500 million Tether in the birth of a bull market or self-destruction

Later, wave field founder Sun Yuchen released Twitter that the total number of USDTs currently developed based on the TRC20 protocol of the wave field network has exceeded 100 million, accounting for 3.5% of the current total USDT issuance. It is reported that the current total number of USDT is 2.8 billion. Sun Yuchen said that he hopes that in the second quarter, the TRC20 version of the USDT will account for more than the ERC20-USDT, and in 2019 it will reach 50% of the total circulation. The TRC20 version of the USDT was released by Tether Teda, and the wavefield launched an early user incentive plan worth 100 million yuan.

Today, Tether has added another 100 million USDTs to the Ethereum network. The total number of OMNI and TRC20 versions has increased by 500 million, and the total circulation has reached the highest level in history.

Some analysts believe that: USDT's liquidity is determined according to market demand. When the premium is high, Tether will issue USDT to suppress premium. When the premium is negative, Tether will recover and reduce USDT liquidity. Today, USDT's off-market price falls to Near the 6.8 yuan, compared with yesterday's 2% decline, the USDT price fell for a short time. On the one hand, the BTC went down from $5,400 to $5,100 at night, some investors chose to sell the USDT to wait and see, and the second was because of the recent increase in Tether. The USDT, the circulation may exceed the market demand, there is the possibility of over-issuance.

DGroup founder Zhao Dongfa Weibo said that the market is picking up and there is demand for USDT, and Tether is likely to be issued. How could it be that the Tether issuance has caused the market to rise? Tether is in the issuance, but there is no overshoot, because if it is not the market demand, the super-issue will soon make Tether's price collapse.

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