On a most agreeable Saturday, the twelfth of April in the year of our Lord two thousand and twenty-five, the esteemed purveyor of stablecoins, Tether, did engage in the minting of a most prodigious sum of one billion USDT upon the illustrious Tron (TRX) network. This event transpired during the early hours of the Western financial markets, a time when one might expect to find one’s tea steeping rather than such grand financial maneuvers. The venerable Paolo Ardoino, CEO of Tether, did declare that this minting was authorized, yet not issued—an intriguing distinction, indeed! 😏
PSA: 1B USDt inventory replenish on Tron Network. Note this is an authorized but not issued transaction, meaning that this amount will be used as inventory for next period issuance requests and chain swaps.
— Paolo Ardoino (@paoloardoino) April 12, 2025
In the meantime, onchain data revealed that a staggering 450 million USDT had been transferred from the Tether treasury to the HTX exchange mere hours prior. According to the esteemed market data from Defillama, the supply of stablecoins upon the Tron network has swelled from a modest $58.5 billion on the first day of January to a rather impressive $67.3 billion by the eleventh of April. One might say, “What a time to be alive!” 💰
450,000,000 #USDT (449,771,624 USD) transferred from Tether Treasury to #HTX
— Whale Alert (@whale_alert) April 12, 2025
Bitcoin Price Ready for Bullish Breakout
Market data from CryptoQuant has revealed that the balance of the highly coveted Bitcoin (BTC) active addresses has been replenished over the past two quarters, despite the prevailing bearish sentiment. How curious! 🧐
The rising confidence in Bitcoin as a long-term investment suggests that a bullish breakout may be imminent. Changpeng Zhao, the co-founder of Binance, has boldly proclaimed that BTC shall reach the lofty heights of $1 million, spurred on by none other than nation-states. One can only imagine the dinner parties that will ensue! 🍷
From a technical analysis perspective, the BTC price has been forming a potential falling wedge, which suggests a breakout towards the next target of between $86k and $91k. However, should it retrace below $80k, the bullish sentiment may be delayed, much to the chagrin of many a hopeful investor.
Altseason When?
The demand for altcoins has gradually increased over the past week, amidst the rising supply of stablecoins. According to on-chain data, a remarkable 453k Ethereum (ETH) units were withdrawn from crypto exchanges in the past week. How thrilling! 🎉
Market data from CryptoQuant indicates that the 30-day trading volume for altcoins against their respective stablecoin pairs has dipped below the yearly average, a phenomenon that has often heralded an accumulation followed by a bullish rebound. How delightful it would be to witness such a spectacle! 🎭
The rising demand for Bitcoin, in tandem with Gold, as investors keenly observe the unfolding trade war between China and the United States, is a clear indication that the much-anticipated altseason of 2025 is drawing nigh. One can hardly contain their excitement! 🥳
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2025-04-12 13:38