Tether adds $3B in USDt as Bitcoin nears $100K

Tether (CRYPTO:USDT) has minted an additional $3 billion in USDt stablecoins on the Ethereum (CRYPTO:ETH) and Tron (CRYPTO:TRX) networks, reflecting heightened trading activity as Bitcoin approaches $100,000.  

Data from Arkham Intelligence revealed $2 billion USDt was minted on Ethereum and $1 billion on Tron through consecutive transactions on November 23.  

According to Lookonchain, Tether has issued approximately $13 billion in new USDt since November 8, 2024.  

Tether CEO Paolo Ardoino stated on November 24, “In 2025, Tether will need to reach hyper-productivity to accomplish our grand vision.”  

Stablecoin volume often reflects market sentiment, with increased volumes seen as a bullish signal.  

The surge in USDt minting coincides with Bitcoin’s rally, which saw its price rise from $69,000 to over $99,000 following the U.S. presidential election on November 5.  

Stablecoins like USDt are essential for traders, acting as fiat on-ramps for purchasing cryptocurrencies and off-ramps for cashing out.  

This demand drives Tether’s growth, with over $134 billion USDt now circulating across various blockchain protocols as of November 2024.  

Political developments have also impacted the market.  

President-elect Donald Trump’s appointment of Cantor Fitzgerald CEO Howard Lutnick as Commerce Secretary has been positively received by the crypto community.  

Cantor Fitzgerald, a key partner managing Tether’s U.S. Treasury reserves, recently acquired a 5% stake in Tether valued at $600 million.  

Speculation from figures like Bitcoin developer Adam Back suggests that a Bitcoin strategic reserve under the new administration could spark a sovereign digital arms race, potentially pushing Bitcoin’s price as high as $1 million.  

At the time of reporting, the Tether price was $1.00, and the Bitcoin price was $97,944.08.