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Stablecoin giant Tether has once again sent shockwaves across the crypto market by minting a staggering 1 billion USDT on the Tron network. This mover by the entity primarily aims to boost up liquidity and provide funds for future developments on one of the most renowned blockchains across the globe.

Tether Moves 1B USDT To Tron Network

Lookonchain’s X post on April 28 revealed that Tether minted 1 billion USDT on Tron. With this massive mint in play, the stablecoin giant marks the completion of 12 billion coins minted since January 29 to date on the same network.

As of now, the leading stablecoin’s total supply on the network has reached $71.7 billion worth of tokens. Justin Sun’s blockchain has emerged as a hotspot for USDT transactions, mainly as it offers lower transaction fees and quicker transaction times as compared to its rivals.

As a result, stablecoin giant Tether continues cementing its foothold network-wide, bringing a fresh inflow of funds. Intriguingly, historical data shows that the stablecoin giant’s minting activities have primarily followed Bitcoin price rallies.

BTC price has rallied nearly 10% in the last seven days, exchanging hands at $95K. Other major altcoins like ETH, XRP, & SOL have also gained 8%-10% in the interim. In turn, the massive minting has gained significant traction across the industry.

However, it’s also worth pointing out that some market watchers speculate the USDT minting activity to be a false alarm. Nevertheless, usual broader market sentiments remain bullish amid such massive inflows on a network.

Yet, the blockchain’s native coin, TRX price saw a slight 1% dip and exchanged hands at $0.2456. The weekly chart for crypto showcased a slight 1.5% increase, remaining undermined the broader market’s recent gains.

Even the coin’s trading volume saw a 15% decline intraday and is resting at $519.69 million. The contrary price metrics have sparked mixed sentiments despite Tether’s growing stablecoin activity on the network.

TRX’s futures OI also slipped over 3% today, reaching $231.75 million. Besides, the derivatives market volume also plunged 14% to $235.5 million, igniting market concerns despite a broader bullish landscape.

The post Why Tether (USDT) Moves $1 Billion in Just 24 Hours? appeared first on CoinGape.

Solana price may be on the verge of a significant rally, with recent developments from DeFi Development Corporation (DDC) potentially fueling the upward momentum.

The company, formerly known as Janover Inc., has filed a $1 billion shelf offering with the U.S. Securities and Exchange Commission (SEC). This move suggests the company is preparing to raise substantial funds, which could have an effect on Solana’s price soon.

DeFi Development Corp.’s $1B Shelf Offering

DeFi Development Corp., a public company that has recently transitioned towards Solana, has caused some stir with its new filing with the SEC. The company plans to offer a shelf offering, for which it intends to seek up to $1 billion in funding. This type of offering enables a firm to offer securities for sale cumulatively and not at one instance in the market.

The filing outlines a variety of securities, including common stock, preferred stock, warrants, and debt instruments. The company also mentioned it could sell any combination of these instruments at an aggregate price of up to $1 billion.

DeFi Development Corp is one of the many numbers of publicly holding companies that are now targeting Solana. This approach entails investing and fixing their price in SOL in a bid that gives the investors an opportunity to invest directly in the tokens. This strategy is in line with other firms like Galaxy Digital that have also invested in Solana and are now staking to earn income. Due to this offering, DDC has raised a total of $34.4 million in SOL and this could be used to fund further acquisitions.

Solana’s Price Movement and Market Outlook

In light of this, with the entrance of institutional investors such as DDC for Solana, Solana price has attracted much attention. Forecasts based on the daily chart illustrate that Solana may be entering a period of increase in price.

Analyzing the market and the chart, there is evidence that SOL price is in the bullish trend with most of the indicators moving in the positive region.

In line with this standing, based on Bollinger Bands, Solana price has lately been operating above the middle band hence signifying approval to the onset of the upward trend. Furthermore, the Moving Average Convergence Divergence (MACD) has a buy signal that is indicative of higher upside momentum. These factors imply that Solana price is poised to test the $200 level and will continue to rise further if there is an increase in demand.

Ongoing Activity in the Solana Ecosystem

In the broader Solana ecosystem, recent events have added to the optimism. For instance, large deposits of SOL have been made to exchanges, suggesting significant activity within the market.

According to Lookonchain, in the most recent transactions, Kraken received large amounts of Solana, 117,913 SOL ($18,26 million) from Pumpfun, which may indicate more fluctuations. Such activity might suggest that demand for Solana is still ramping up, particularly among institutional market participants.

Furthermore, Sol Strategies, another key player in the field, has also entered a $500 million funding agreement for Solana staking. This deal underpins the present institutional investment in Solana and expected growth in SOL price. Through collaboration between the former and the latter companies like DDC and Sol Strategies, Solana may experience further surge in the next few months.

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