Tether To Unleash $1B Liquidity Flood On Tron Network For Imminent Issuance Demands
Portfolio Pulse from Murtuza Merchant
Tether (CRYPTO: USDT) has approved $1 billion to enhance short-term USDT liquidity on the Tron network. This is an authorization, not an issuance, and the funds will be used to cater to imminent issuance demands and chain swaps within the Tron ecosystem. Tether's market value surpassed the $83 billion mark in 2023, with a minting of approximately $16 billion in USDT since the year's start. Meanwhile, the market cap of Circle's (CRYPTO: USDC) stablecoin has dropped from $50 billion to $26 billion.
September 19, 2023 | 4:12 pm
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POSITIVE IMPACT
Tether has approved $1 billion to enhance short-term USDT liquidity on the Tron network. This could potentially increase the demand for USDT in the short term.
The approval of $1 billion to enhance short-term USDT liquidity on the Tron network indicates a potential increase in the demand for USDT. This could potentially lead to a short-term increase in the price of USDT.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
NEGATIVE IMPACT
The market cap of Circle's stablecoin has dropped from $50 billion to $26 billion. This could potentially decrease the demand for USDC in the short term.
The decrease in the market cap of Circle's stablecoin from $50 billion to $26 billion indicates a potential decrease in the demand for USDC. This could potentially lead to a short-term decrease in the price of USDC.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80