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Tether Issues 1 Billion USDT on the ETH Chain

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According to the report, the data of block browser shows that on March 4, at 18:31 (UTC+8), Tether issued an additional 1 billion USDT on the ETH chain. The tr…

Tether Issues 1 Billion USDT on the ETH Chain

According to the report, the data of block browser shows that on March 4, at 18:31 (UTC+8), Tether issued an additional 1 billion USDT on the ETH chain. The transaction hash is 0x6ee9ea768ebc29daad9396b5d54a8b6510389b6261458a88adf8a0ed8ed4c11a.

Tether issued an additional USD1 billion on the ETH chain, which is a chain change operation

Interpretation of the news:


In recent news, a report has shown that on March 4th, 2021, at 18:31 (UTC+8), Tether issued an additional 1 billion USDT on the ETH chain. This means that Tether has increased its circulating supply of USDT, a popular stablecoin that is pegged to the US dollar, and allows users to transfer and exchange dollars without the volatility of cryptocurrencies such as Bitcoin or Ether.

The transaction hash 0x6ee9ea768ebc29daad9396b5d54a8b6510389b6261458a88adf8a0ed8ed4c11a signifies that the transaction was recorded on the Ethereum blockchain, which has become a popular platform for decentralized applications that use smart contracts to automate transactions. Tether, which was originally created on the Bitcoin blockchain, has also expanded to other blockchains such as Ethereum, Tron, and Omni.

The issuance of 1 billion USDT may have various implications for the cryptocurrency market. On the one hand, it could indicate that there is a high demand for USDT, perhaps as a result of increased trading volume or speculation. On the other hand, it could lead to concerns about the potential impact on the price stability of USDT and its peg to the US dollar.

Tether has been a controversial project in the cryptocurrency space, with some criticisms and legal challenges regarding its transparency, reserves, and relationship with Bitfinex, a cryptocurrency exchange. Tether has claimed that it is fully backed by reserves, however, some have questioned the auditability and reliability of these claims.

In conclusion, the issuance of 1 billion USDT by Tether on the ETH chain is a significant event in the cryptocurrency market, which could have various implications and raise questions about the stability and transparency of stablecoins. Whether it will have a positive or negative impact on the market is yet to be seen, but it highlights the growing importance of stablecoins in the crypto ecosystem.

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