- Large Tether mints often precede strong upward Bitcoin price movements.
- TRX gains 4.76% following USDT minting, signaling increased market interest.
The crypto market has been captivated by a recent $2 billion Tether (USDT) mint on the Tron blockchain. CryptoQuant’s recent data shows that Tether Treasury minted $2 billion USDT on the Tron network as of June 16. The chart reflects a single, large green bar indicating the mint, with no corresponding burn activity.Â
This mint occurred in two separate $1 billion transactions, both confirmed by Whale Alert. The first, valued at around $1.001 billion, was recorded on June 22. The second transaction, of equal size, followed shortly after.
Tether CEO Paolo Ardoino addressed the mint activity on X (formerly Twitter), clarifying that the USDT tokens are “authorized but not issued.” He explained that the mint is intended for “inventory replenishment” to support future issuance requests and blockchain swaps. As a result, the tokens are currently held in Tether’s Tron-based treasury address and are not in active circulation.
Despite the funds’ inactive status, the crypto community has responded with interest. Analysts and traders often interpret large USDT mints as early signals of increased liquidity entering the digital asset ecosystem. These events tend to precede rallies, especially in Bitcoin and other top-tier assets.
Amr Taha, a CryptoQuant analyst, emphasized that such minting activity boosts market liquidity. He added that the fast and low-cost nature of the Tron network makes it a preferred platform for such operations. Historically, similar mints on Tron have aligned with bullish shifts in Bitcoin’s price trajectory.
TRX Sees Price Growth Amid Market Anticipation
TRON (TRX), the blockchain hosting the latest Tether mint, has seen a strong price move. At press time on June 23, TRX is trading at $0.2726, a 4.76% increase over the past 24 hours. The price rose from a low near $0.2625, gaining steadily through the day.
Support is now identified at $0.2625, while resistance sits at $0.2740. TRX reached this resistance before a brief retracement. A breakout above this level could suggest continued upward momentum.
Disclaimer:Â This article is for informational purposes only and does not constitute financial advice. CoinCryptoNewz is not responsible for any losses incurred. Readers should do their own research before making financial decisions.
