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Cryptocurrency News Articles
Tether (USDT) Mints 1 Billion Coins on Tron (TRX) Network
Apr 12, 2025 at 06:33 pm
Leading stablecoins issuer Tether minted 1 billion USDT on Tron (TRX) network on Saturday, April 12, during the early Western financial markets.
Leading stablecoin issuer Tether minted 1 billion USDT on Tron (TRX) network on Saturday, April 12, during the early Western financial markets.
According to Paolo Ardoino, CEO Tether, the 1 billion mint is an authorized but not an issued transaction.
1 Billion USDT mint on TRON is an authorized transaction, not issued.— Paolo Ardoino (@paoloardoino) April 12, 2025
Meanwhile, onchain data shows that 450 million USDT were transferred from Tether treasury to HTX exchange a few hours ago.
According to market data from Defillama, the supply of stablecoins on Tron network has surged from $58.5 billion on January 1, 2025 to around $67.3 billion on April 11, 2025.
Bitcoin Price Ready for Bullish Breakout
Market data from CryptoQuant shows the balance of the highly active addresses has been replenished in the past two quarters amid bearish sentiment.
The rising confidence of Bitcoin as a long term investment suggests an imminent bullish breakout ahead. Changpeng Zhao, Binance Co-founder, believes BTC will hit $1 million catalyzed by nation-states.
From a technical analysis standpoint, BTC price has been forming a potential falling wedge, which suggest a breakout towards the next target of between $86k and $91k. However, a retrace below $80k will delay the bullish sentiment in the near term.
Altseason When?
The demand for altcoin gradually increased in the past week, amid the rising supply of stablecoins. According to on-chain data, 453k Ethereum (ETH) units were withdrawn from crypto exchange in the past week.
Market data from CryptoQuant shows the 30-day trading volume for altcoins against the respective stablecoins pair dropped below the yearly average, which has often coincided with an accumulation followed by bullish rebound.
The rising demand for Bitcoin in tandem with Gold, as investors watch the unfolding trade war between China and the United States, is a clear indication that the much anticipated altseason 2025 is much closer. Nonetheless, a breakout of Bitcoin price towards new all time highs will be pivotal in the coming weeks.
The post Tether Mints 1 Billion USDT on Tron Network, Bitcoin Price Set for Breakout appeared first on Chain Link.
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