Investors Bullish on Bitcoin as Tether Mints $1.3 Billion of USDT

Tether, the issuer of USDT—the world’s largest stablecoin—has minted over $1.3 billion worth of USDT since the market bottom, as investors appear to be positioning themselves to buy the dip. Since the market hit its low on August 5, Tether’s treasury has printed over $1.3 billion in USDT. This newly minted USDT has been transferred to several major centralized cryptocurrency exchanges, including Kraken, Coinbase, OKX, and Bullish, according to an August 9 post on X by Lookonchain. Large inflows of stablecoins like USDT to crypto exchanges often indicate that investors are preparing to buy assets, as stablecoins serve as the