Tether has minted $5 billion worth of the USDT stablecoin over the past week amid Bitcoin’s rally near the $90,000 milestone.

Data from blockchain analytics platform SpotOnChain reveals that Tether began this series of USDT issuances with $1 billion minted on Nov. 6, contributing to Bitcoin’s climb to a record high of $76,200.

The firm then issued another $2 billion USDT across Nov. 9 and 10, propelling Bitcoin past the $80,000 mark. Earlier today, Tether added another $2 billion USDT, bringing the total issuance over five days to $5 billion.

This minting spree has boosted Tether’s market cap to around $124 billion, further cementing its position as the leading stablecoin in the crypto market.

As the dominant dollar-pegged stablecoin, USDT is pivotal in crypto trading, supporting liquidity across centralized and decentralized exchanges. Data from CryptoSlate shows that USDT remains one of the most frequently traded assets, with a 24-hour trading volume approaching $289 billion.

Meanwhile, this recent increase in USDT supply aligns with a broader market upswing, reflecting growing optimism and trader confidence. Historically, a rise in USDT circulation correlates with gains in major cryptocurrencies like Bitcoin and Ethereum.

So, as this latest expansion in supply has unfolded, Bitcoin’s price has reached new all-time highs of nearly $90,000, buoyed by market optimism about Donald Trump’s return to the US presidency.

Wallet development kit

USDT’s increasing supply coincides with Tether launching an open-source wallet development kit (WDK) to streamline non-custodial wallet integration for websites and applications.

Tether described the WDK as a modular, open-source toolkit that empowers businesses and developers to integrate non-custodial wallet functionality. This toolkit supports human users and emerging digital entities like AI agents, robots, and autonomous systems.

The WDK is fully self-c

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Author: Oluwapelumi Adejumo