Tether’s 30 million minted USDT tokens likely to be used in pumping Bitcoin price following the drop below $7,500. Ripple explores the levels towards $0.28 after $0.3 become impenetrable. The market finally yielded to the bearish calls in the last couple of weeks. The drop seems to have been necessary as upward movement was becoming untenable. The entire crypto market flash dropped with the majority of crypto assets smashing through key support levels. In less than 24 hours the entire crypto market lost $19 billion from $223 billion to $204 billion. In the same period the negative trading volume ballooned from $57 billion to $79 billion. Interestingly, the Tether Treasury is said to have minted 30 million USDT tokens which were transferred to Bitfinex exchange following the bloodshed. The entire process of minting was done on the Tron blockchain according to the Whale Alert. A similar incident occurred about a month ago whereby Tether Treasury minted $15 million in USDT and later transferred the tokens to Huobi exchange. At the time, Bitcoin price slumped to levels around $8,000. The minting has been correlated to Bitcoin price pump by many analysts in the crypto market. While it may be true Tether uses USDT to manipulate Bitcoin, the pumping process is not entirely illegal. Tether and Bitfinex have been investigated for market manipulation before but it seems they have a way of getting away with it, Bitcoin, Ethereum and Ripple update The intraday charts clearly show that the three largest markets in the crypto space are very suppressed. Bitcoin is trading under $7,500, although it hovered just below $8,000 on Wednesday. Ripple declines thrust through the support at $0.28 to test $0.26 on the downside. Ethereum, on the other hand, failed to hold above $170 leading to a correction that touched $160. Ether is valued at $160.50 after losing 1.26% of its value on the day. FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street Crypto News share Read Next Bitcoin teeters below $7,500 following massive sell-off – Confluence Detector FX Street 3 years Tether's 30 million minted USDT tokens likely to be used in pumping Bitcoin price following the drop below $7,500. Ripple explores the levels towards $0.28 after $0.3 become impenetrable. The market finally yielded to the bearish calls in the last couple of weeks. The drop seems to have been necessary as upward movement was becoming untenable. The entire crypto market flash dropped with the majority of crypto assets smashing through key support levels. In less than 24 hours the entire crypto market lost $19 billion from $223 billion to $204 billion. In the same period the negative trading volume ballooned… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.
