Around $100 million’s worth of Tether has just been “printed” in the blockchain coming to a grand total of $3.5 billion market capitalization from $2.8 billion from just a few months back.
Tether has always been a very controversial cryptocurrency in the market, but lately, with the omissions of so many coins in the market, it has become even more discussed. In fact, the company has injected the market with more than $250 million’s worth of cryptocurrency over the course of the last week.
According to the CTO of Bitfinex, Paolo Ardoino, the Tether that has just been emitted in the blockchain will not be issued quite yet. It has indeed been authorized but will become a part of the circulation once the demand will outpace supply.
This was done in order to cement Tether’s position as a stablecoin in the future.
Tether’s official website also confirms this comment, mentioning that $100 million’s worth of Tether is authorized in the market but not directly available quite yet.