On November 6th, COINOTAG News reported a significant development in the stablecoin market, with Tether minting an impressive 2 billion USDT on the Ethereum network. In a remarkable move, Tether also transferred 500 million USDT to Binance within just 30 minutes. This rapid action aligns with Tether’s recent announcement regarding on-chain conversions. The firm stated its intention to collaborate with third-party trading platforms to facilitate the transfer of USDT across various blockchains to ETH-based USDT. Importantly, Tether clarified that this operational maneuver will not affect the overall supply of USDT. Observers within the crypto sphere note that these strategic shifts could enhance liquidity and encourage broader usage of stablecoins in decentralized finance (DeFi) ecosystems. Stakeholders are keenly watching how these adjustments will impact market dynamics in the coming days.
