$50 million new Tether tokens on the market

Altcoin

$50 million new Tether tokens on the market

By Amelia Tomasicchio - 13 Aug 2018

Tether (USDT), the stable coin owned by Bitfinex, has issued $50 million new Tether tokens on August 11, according to OmniExplorer data.

As it is a stable coin with a value of 1 token = $1, it means there are new 50 million USDT on the market.

According to Coinmarketcap charts, Tether’s market capitalization lost around $300 million in less than a month, hitting a value of $2.4 billion.

However, Tether is now second after bitcoin in terms of daily trading volumes thanks to $4.2 billion traded in only one day (28.16% of all crypto trades), while bitcoin’s volume in 24 hours is $5.7 billion (38.62%).

Still criticism around Tether, but not today

There is always criticism around this stable coin.

On June 25th, Tether released 250 million tokens, and there was who saw in it the cause of the bitcoin jump. Also, there is a University of Texas study that accused Tether to be behind the manipulation of the bitcoin price throughout 2017.

Amelia Tomasicchio

As expert in digital marketing, Amelia began working in the fintech sector in 2014 after writing her thesis on Bitcoin technology. Previously author for several international crypto-related magazines and CMO at Eidoo. She is now the co-founder and editor-in-chief of The Cryptonomist, and also PR manager for the Italian market at Bitget. She is also a marketing teacher at Digital Coach in Milan and she published a book about NFTs for the Italian publishing house Mondadori, while she is also helping artists and company to entering in the sector. As advisor, Amelia is also involved in metaverse-related project such as The Nemesis and OVER.