Stablecoin issuer Tether minted an additional $3 billion in USDT tokens on November 23 on the Ethereum and Tron networks amid increased trading volume in the crypto markets. Since November 8, 2024, Tether has minted approximately $13 billion USDT.

Stablecoin volume is often used by traders and investors as a proxy to gauge interest in the crypto markets. A high volume of newly minted stablecoins is regarded by many traders as a bullish sign for price action, while low volume indicates the opposite.