Tether’s stablecoin platform is coming back: it will be available for fiat deposits and redemption of fiat currency to USDT once again.
Data shows that the $500 million worth USDT tokens accounted for 52% of the total supply leaving only another $446 million in the Tether treasury.
Controversial stablecoin Tether is going through a rough phase losing nearly 20% of its valuation in a week’s time with the decrease in USDT circulation in the crypto market.
For the third time in the last one-month Tether has issued $50 million in USDT tokens as the company’s circulating market cap reaches $2.5 billion.
Analysts say that there could be a “bloodbath” in the crypto markets if suspicions regarding use of Tether tokens for pumping Bitcoin price turns out to be true.