Tether, the top stablecoin issuer with USDT, has recently approved the creation of an additional one billion USDT on the TRON blockchain.
This announcement follows a similar two days, which concerns market participants and makes the cryptocurrency influenced by stablecoin the focus.
However, USDT has to be officially mentioned by Tether related to the most recent correlation between USDT expansion and the increases in its supply.
However, Coinmarketcap data suggests that the USDT, backed by $106.2 billion, is the biggest crypto by capitalization, hence taking total control of this space.
The analysts from CryptoQuant show a strong tendency for Bitcoin prices to grow when the circulating supply of USDT increases. The USDT supply was on an upward trend of about 30 billion from 2022 until now, when the multi-fold hikes in the cost of BTC were noticed.
However, concerns about transparency regarding reserves and fears of instability persist strongly, even after the Wall Street Journal published the results of its investigation.
Source: cryptotimes.io
