Tether minted $3 billion in the past week, near$6 Billion in a month. This is a hugely bullish sign

Over the past week, Tether has minted $3 billion USDT.

https://preview.redd.it/sjb6zytlw8pa1.png?1316&format=png&auto=webp&s=1ef4a913853d02cf0e0164d5d100fb3cf1dbfb74

This actually makes it $6 Billion Tether has minted in almost a month, definitely making it a fast mint rate for Tether.

Some might be quick to speculate if this is (more?) fraudulent activity by Tether. Whether you believe them to have been guilty of any of the accusations over the years, or not, is a different matter from what I wish to point out. Although on that point, Tether has come quite a ways into being somewhat more transparent and complying with regulation, properly backed issuance and being more trustworthy on the whole.

I see these mints as a hugely bullish sign. Tether would only seek to mint this huge amount of funds if there was demand for it. After all, more supply only dilutes prices and profits, even for the tiny margin that stablecoins trade off of. Meanwhile,Tether has only gained market share while other stablecoins have lost it. Therefore, stablecoins being a base that underpins almost all crypto trading pairs, any change in the market would be reflected mostly, and disproportionately so, in Tether's statistics and on-chain data. This is to say that the huge minting by Tether is a indicator or proxy for a massive surge in demand in crypto in general.

While this may not necessarily be big breaking news, it is still a huge confirmation. As we all obviously know that there is much more crypto demand, and where this demand came from. But it is a big bullish sign nevertheless.

It is harder to state if this new money ill be "activated" in price in non-stablecoin crypto tokens and cause those tokens' price appreciation, or buyers were simply looking to lock their money away in a dollar pegged-asset just to get away from banks, But even if it sits only in dollar-pegged assets, some significant portion of it will eventually make it into non-stablecoins and Bitcoin as traders get more comfortable. This future is looking bright.