Bitcoin flipped its old resistance into support as Tether’s market cap continues to grow rapidly in 2024.
Tether (USDT), the world’s largest stablecoin, has minted another $1 billion, bringing its market capitalization above $110 billion, which could catalyze Bitcoin's (BTC) next move to new all-time highs.
Tether’s Treasury minted $1 billion worth of USDT during the past 24 hours, bringing its yearly total to $31 billion.
The newly minted USDT was a big reason why Bitcoin price climbed from $27,000 to $73,000, according to a May 17 post from Lookonchain:
