Almost half a billion USDT minted in past 36 hours as Bitcoin rallies
The Tether (USDT) Treasury has minted almost half a billion new USDT tokens and distributed more than 185 million tokens to exchanges and other addresses in the last 36 hours. As shown by blockchain tracker Whale Alert, two transactions of 150 million and 300 million USDT tokens were minted on Oct 20 and Oct 21 respectively. The first 150 million was printed only hours before Paypal’s announcement and the Bitcoin (BTC) price rally that followed.
Although some raised the usual allegations of market manipulation in response to Whale Alert’s tweets, both transactions were acknowledged by Tether CTO Paolo Adoino as unissued “inventory replenishes” on the Tron (TRX) Network: Since yesterday’s 150 million USDT minting, 15 transactions totaling 185.9 million USDT have been sent to exchanges including Bitfinex, and Huobi, as well as several “unknown addresses.” Almost 70% (126.9 million USDT) of the tokens sent out of the Treasury ended up going to Binance.
Tether issuance has been frequently linked with Bitcoin price rallies, although there is a constant “chicken and egg” debate over whether the issuance leads the rally, or is in response to demand. In April this year, Tether minted 160 million USDT during Bitcoin’s price rally to $9,000. It came one week after research was released that argued that USDT isn’t used to manipulate Bitcoin’s price. Tether’s market cap has grown by more than 400% year-to-date to reach $15.9 billion.
Top Cryptocurrencies with Price Predictions
| # | Crypto | Prediction | Accuracy | CVIX | Price | 24h | 7d | Market Cap | 7d price change | |
| 1 |  BTC |
Bitcoin predictions | 66% | 76 | $61 250.62 | -2.84% | -0.77% | $1 154 674 094 562 |  |
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|---|---|---|---|---|---|---|---|---|---|---|
| 2 |  ETH |
Ethereum predictions | 70.8% | 57 | $4 042.30 | -2.55% | 5.39% | $477 150 448 535 |  |
|
| 3 |  BNB |
Binance Coin predictions | 69.2% | 60 | $482.49 | 0.74% | 2.70% | $80 480 315 639 |  |
|
| 4 |  ADA |
Cardano predictions | 91.2% | 12 | $2.16 | -0.54% | -2.20% | $71 185 024 084 |  |
|
| 5 |  USDT |
Tether predictions | 92.4% | 1 | $1.000245 | 0.03% | 0.09% | $69 591 162 791 |  |
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| 6 |  SOL |
Solana predictions | 70.8% | 55 | $204.24 | 0.80% | 29.17% | $61 440 079 262 |  |
|
| 7 |  XRP |
XRP predictions | 72.8% | 51 | $1.096102 | -0.97% | -3.88% | $51 457 996 304 |  |
|
| 8 |  DOT |
Polkadot predictions | 60% | 79 | $44.55 | -0.99% | 2.11% | $43 999 075 422 |  |
|
| 9 |  DOGE |
Dogecoin predictions | 69.2% | 56 | $0.246907 | 0.64% | 4.09% | $32 542 542 435 |  |
|
| 10 |  USDC |
USD Coin predictions | 92.4% | 1 | $1.000313 | 0.06% | 0.09% | $32 442 834 043 |  |
|
| 11 |  LUNA |
Terra predictions | 69.6% | 65 | $43.44 | 5.78% | 17.86% | $17 443 010 900 |  |
|
| 12 |  UNI |
UniSwap predictions | 74% | 47 | $25.79 | -2.88% | -0.74% | $15 775 566 720 |  |
|
| 13 |  AVAX |
Avalanche predictions | 67.6% | 65 | $66.57 | 4.10% | 17.36% | $14 663 644 845 |  |
|
| 14 |  WBTC |
Wrapped Bitcoin predictions | 61.6% | 75 | $61 265.73 | -2.87% | -0.84% | $13 545 425 709 |  |
|
| 15 |  LINK |
Chainlink predictions | 72.8% | 50 | $29.07 | -0.32% | 7.40% | $13 401 075 815 |  |
