Monthly Archives: November 2017

The controversy surrounding the correlation between the release of new USDT and dramatic price spikes lead by bitfinex trading continues, as 20 million new USDT were released shortly before a single market buy of approximately $13.5 million USD worth of bitcoin was executed on the 8th of November. The sudden spike in buying pressure quickly drove the price of bitcoin from $7075 to $7350 in less than 60 minutes. Since then, an additional 20 million USDT have been released into circulation on the 9th, and 30 million USDT on the 10th of November.

Source: Total Supply of Tethers Increases By 20% in One Week