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 | 59.2% | 84 | $29 906.45 | 1.19% | -0.93% | $569 615 124 749 |  |
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|---|---|---|---|---|---|---|---|---|---|---|
| 2 |  ETH |
Ethereum predictions | 59.2% | 88 | $2 006.73 | 1.31% | -3.60% | $242 575 430 000 |  |
|
| 3 |  USDT |
Tether predictions | 94% | 1 | $0.998861 | 0.02% | 0% | $73 191 653 422 |  |
|
| 4 |  USDC |
USD Coin predictions | 95.2% | 1 | $1.000391 | 0.01% | 0% | $53 095 646 398 |  |
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| 5 |  BNB |
Binance Coin predictions | 56% | 88 | $316.79 | 1.33% | 4.98% | $51 725 100 830 |  |
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| 6 |  XRP |
XRP predictions | 57.6% | 89 | $0.417070 | 0.10% | -2.43% | $20 162 437 867 |  |
|
| 7 |  BUSD |
Binance USD predictions | 94.8% | 1 | $0.999756 | -0.07% | -0.22% | $18 513 212 786 |  |
|
| 8 |  ADA |
Cardano predictions | 56% | 91 | $0.535071 | 0.10% | -4.15% | $18 052 780 745 |  |
|
| 9 |  SOL |
Solana predictions | 60.8% | 88 | $51.57 | 2.05% | -5.27% | $17 496 824 554 |  |
|
| 10 |  DOGE |
Dogecoin predictions | 58% | 92 | $0.085116 | 0.07% | -5.10% | $11 292 451 422 |  |
|
| 11 |  DOT |
Polkadot predictions | 58.4% | 87 | $10.08 | 0.86% | -9.13% | $9 955 703 739 |  |
|
| 12 |  AVAX |
Avalanche predictions | 58.8% | 90 | $31.39 | 4.58% | -10.83% | $8 448 611 482 |  |
|
| 13 |  WBTC |
Wrapped Bitcoin predictions | 63.2% | 84 | $29 892.78 | 1.26% | -0.99% | $8 268 429 569 |  |
|
| 14 |  TRX |
TRON predictions | 72.8% | 53 | $0.076139 | 2.55% | 10.86% | $7 366 589 571 |  |
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| 15 |  DAI |
Dai predictions | 96% | 1 | $1.000541 | -0.05% | 0.02% | $6 532 230 569 |  |
