The newly minted stablecoins could help push Bitcoin’s price above the $65,000 resistance, which is the short-term whale holder's realized price.
Tether, the issuer of the world’s largest stablecoin, has minted over $1.3 billion worth of stablecoins since the market bottom, as investors are seemingly preparing to buy the dip.
Tether’s Treasury printed over $1.3 billion worth of Tether USDt (USDT) since the market bottomed on Aug. 5.
The $1.3 billion was transferred to some of the most popular centralized cryptocurrency exchanges (CEXs), including Kraken, Coinbase, OKX and Bullish, according to an Aug. 9 X post by Lookonchain.
