Tether, the issuer of the stablecoin USDT, has printed $5 billion worth of the asset over the past week, providing a significant liquidity boost that coincides with Bitcoin’s ongoing price rally. The influx of new USDT supply has helped propel Bitcoin’s price near the $90,000 mark, with Tether’s increasing market cap now standing at approximately $124 billion.
Blockchain analytics from SpotOnChain show that Tether initiated this series of mints on November 6 with a $1 billion USDT issuance, which coincided with Bitcoin reaching an all-time high of $76,200. Over the following days, Tether minted an additional $2 billion USDT across November 9 and 10, pushing Bitcoin’s price past $80,000. The latest issuance of $2 billion earlier today brought the total USDT minted over the five-day period to $5 billion.
This injection of liquidity underscores Tether’s critical role in the cryptocurrency market, particularly as the leading dollar-pegged stablecoin. Stablecoins like USDT facilitate high liquidity and efficient trading across both centralized and decentralized exchanges. CryptoSlate data reveals that USDT’s 24-hour trading volume is nearing $289 billion, affirming its importance in the crypto ecosystem as a highly traded asset.
Historically, surges in USDT supply correlate with bullish momentum in cryptocurrencies such as Bitcoin and Ethereum. As the supply increased, Bitcoin hit new highs nearing $90,000, bolstered by market enthusiasm around various macroeconomic events, including Donald Trump’s potential return to the US presidency.
Tether’s New Wallet Development Kit
The expansion in USDT supply aligns with Tether’s launch of an open-source wallet development kit (WDK). Announced at the recent Lugano Plan ₿ conference, the WDK aims to support non-custodial wallet integration for websites and applications, empowering businesses and developers to build secure, decentralized wallet solutions. Tether’s CEO Paolo Ardoino described the WDK as a modular, open-source solution that supports both human users and emerging digital entities, including AI agents and autonomous systems.
With the WDK’s self-custodial functionality, developers can now create versatile mobile, desktop, and web wallets that give users greater control over their financial assets. This toolkit embodies Tether’s commitment to privacy and financial autonomy by enabling fully self-custodial wallet designs for diverse user types.
As USDT circulation grows alongside Bitcoin’s latest rally, Tether’s technological advancements demonstrate the company’s forward-thinking approach to expanding decentralized finance, liquidity, and privacy for a broadening crypto ecosystem.