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 | 83.2% | 27 | $63 731.32 | -1.41% | -5.15% | $1 254 718 965 668 |  |
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|---|---|---|---|---|---|---|---|---|---|---|
| 2 |  ETH |
Ethereum predictions | 74.4% | 45 | $3 048.04 | -2.05% | -6.28% | $365 984 339 181 |  |
|
| 3 |  USDT |
Tether predictions | 96% | 1 | $1.000527 | 0.01% | 0.04% | $109 527 253 340 |  |
|
| 4 |  BNB |
Binance Coin predictions | 88.4% | 18 | $558.98 | -0.11% | -6.15% | $83 585 746 502 |  |
|
| 5 |  SOL |
Solana predictions | 75.2% | 51 | $142.40 | -1.33% | -5.02% | $63 625 804 667 |  |
|
| 6 |  USDC |
USD Coin predictions | 94% | 2 | $1.000198 | 0.01% | 0.03% | $33 909 730 390 |  |
|
| 7 |  XRP |
XRP predictions | 69.6% | 58 | $0.515110 | 2.69% | -4.81% | $28 397 582 786 |  |
|
| 8 |  DOGE |
Dogecoin predictions | 68.8% | 59 | $0.152823 | 0.19% | -10.17% | $22 000 479 669 |  |
|
| 9 |  TON |
Toncoin predictions | 65.6% | 64 | $6.30 | -10.61% | -5.87% | $21 855 614 662 |  |
|
| 10 |  ADA |
Cardano predictions | 67.2% | 60 | $0.490471 | 6.05% | -2.74% | $17 472 860 958 |  |
|
| 11 |  SHIB |
SHIBA INU predictions | 62.8% | 85 | $0.000023 | 0.64% | -5.01% | $13 501 804 322 |  |
|
| 12 |  AVAX |
Avalanche predictions | 67.2% | 60 | $35.69 | 0.71% | -5.73% | $13 488 699 302 |  |
|
| 13 |  STETH |
Lido stETH predictions | 96% | 1 | $2 941.39 | -0.40% | -3.32% | $10 258 752 564 |  |
|
| 14 |  WBTC |
Wrapped Bitcoin predictions | 82.4% | 31 | $63 865.14 | -1.06% | -5.00% | $9 923 604 206 |  |
|
| 15 |  DOT |
Polkadot predictions | 71.2% | 57 | $6.79 | -0.01% | -5.17% | $9 753 046 496 |  |
