Tether, the issuer of the USDT stablecoin, has recently minted another batch of coins, totaling two billion in just two days. This move has caught the attention of experts in the field, especially those at Lookonchain who have been closely monitoring the situation.

The latest release of 1 billion USDT on the Tron blockchain occurred shortly after a similar release a couple of days ago. This brings the total minted by Tether Treasury to 6 billion USDT in the past month alone. Interestingly, it has been observed that with each minting of USDT, the price of Bitcoin tends to increase, prompting questions about a possible correlation.

As of now, Tether has not provided any official comments on this recent development. However, data from CoinMarketCap reveals that USDT currently has a market capitalization of $106.2 billion, with a dominant market share of 69.2% according to the DefiLlama dashboard.

Analysts at CryptoQuant have been tracking the relationship between the circulating supply of USDT and the price of Bitcoin since late 2022. They have noted a significant increase in the supply of USDT, approximately 30 billion, coinciding with the rise in Bitcoin’s price each time.

Despite being the leading stablecoin issuer in the market, Tether has faced scrutiny over its lack of transparency regarding reserves. Recent allegations of using fake documents and shell companies have further raised concerns about the stability of the stablecoin and its potential impact on the broader cryptocurrency market.

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