Tether (USDT) Minting Reaches $1 Billion as Bitcoin (BTC) Price Ranges Between $80,000 and $84,000

According to data from Arkham, over $1 billion worth of USDT was minted on March 31.  The large-scale minting signals strong demand for USDT, further solidifying its position as the dominant stablecoin in the crypto market.

A staggering $1 billion worth of Tether's USDT was minted on March 31, according to data from Arkham. This marks the fourth time this year that over $1 billion of USDT has been minted in a single day.

The large-scale minting signals strong demand for USDT, further solidifying its position as the dominant stablecoin in the crypto market. The vast majority of USDT is minted on the Tron network, highlighting its importance for stablecoin transactions.

Tron CEO Justin Sun responded to the news, emphasizing the role of the Tron network.

1 more billion USDT on Tron weekly https://t.github.com/arkm/highlight/raw/master/img/c__0x8028a8c7631f001e3911040e8a0c6677__tether__usdt_/tether_usdt_minted_amount_over_time.png

Crypto whales waking up

Bitcoin's price hovered between $81,000 and $84,000 on Monday as it continues its range-bound movement.

Despite the uncertainty, large Bitcoin holders are increasing. Their number has reached 1,993, the highest since December 2024, growing by 2.6% over the past five weeks, according to Santiment.

This rise suggests a degree of confidence among key stakeholders in Bitcoin.

Meanwhile, significant whale activity has been observed across multiple assets. As previously reported by U.Today, a withdrawal of 40 million XRP, worth approximately $83.57 million, was detected leaving the Bithumb exchange for an unknown wallet, sparking speculation that a major investor is accumulating XRP.

As reported by U.Today, Bitcoin's price remained largely unchanged on Monday, with the flagship cryptocurrency trading at around $83,000. The first cryptocurrency is expected to find strong support at $80,000, and a close above $85,000 could open the door for a continuation of the uptrend.

At press time, BTC is changing hands at $82,780, down 0.28% over the past 24 hours.