Ethereum

<h2 id="key-points">Key Points</h2> 
<ul> 
 <li>Tether Treasury just minted 1 billion USDT on Ethereum.</li> 
 <li>In the past year, Tether Treasury minted a total of 32 billion USDT.</li> 
</ul> 
According to recent reports from Lookonchain, Tether Treasury minted 1 billion USDT on Ethereum in the past hour. 
In a new post on X, Lookonchain also noted that during the past year, Tether Treasury has minted a total of 32 billion USDT. 
<figure style="width: 100%" class="wp-caption alignnone">
 <a href="https://x.com/lookonchain/status/1823337536896590157/photo/1" rel="nofollow" target="_blank"><img loading="lazy" decoding="async" src="https://pbs.twimg.com/media/GU3LilNbMAA3qCh?format=jpg&amp;name=4096x4096" alt="Lookonchain via X" width="2062" height="1132" title="Tether Treasury Minted 1B USDT on Ethereum 50"></a>
 <figcaption class="wp-caption-text">
 Lookonchain via X
 </figcaption>
</figure> 
On July 16, Lookonchain <a href="https://x.com/lookonchain/status/1813060615524741594" rel="nofollow" target="_blank">announced</a> that the Tether Treasury minted another 1 billion USDT on Tron Network this time, after a month. Back then, they had minted a total of 31 billion USDT in the past year. 
<figure style="width: 100%" class="wp-caption alignnone">
 <a href="https://x.com/lookonchain/status/1813060615524741594/photo/2" rel="nofollow" target="_blank"><img loading="lazy" decoding="async" src="https://pbs.twimg.com/media/GSlIjgnacAEyddb?format=jpg&amp;name=4096x4096" alt="Lookonchain via X" width="2626" height="960" title="Tether Treasury Minted 1B USDT on Ethereum 51"></a>
 <figcaption class="wp-caption-text">
 Lookonchain via X
 </figcaption>
</figure> 
<h2 id="whale-rebuilds-ethereum-position">Whale Rebuilds Ethereum Position</h2> 
Also, earlier today, Lookonchain <a href="https://x.com/lookonchain/status/1823260722085937654" rel="nofollow" target="_blank">noted</a> that a whale who was liquidated for 2,890 wrapped staked Ethereum (wstETH) worth about $8 million during the market crash on August 5 is back to buying and long ETH again. 
According to blockchain data, the whale borrowed $6.6 million in DAI, $2.7 million in USDT, and $2.5 million in USDC since August 11 to acquire 4,459 ETH at an average price of $2,646 per coin. 
The total purchase is reportedly valued at $11.8 million. 
<figure style="width: 100%" class="wp-caption alignnone">
 <a href="https://x.com/lookonchain/status/1823260722085937654/photo/1" rel="nofollow" target="_blank"><img loading="lazy" decoding="async" src="https://pbs.twimg.com/media/GU2Fr8ZaIAASZsm?format=jpg&amp;name=large" alt="Lookonchain via X" width="1600" height="1178" title="Tether Treasury Minted 1B USDT on Ethereum 52"></a>
 <figcaption class="wp-caption-text">
 Lookonchain via X
 </figcaption>
</figure> 
The whale address was identified as 0x940df59ba33f3387deff3c2400fecf1286fcce4c and has become active again after the liquid liquidation. This shows a renewed long position in Ethereum despite the recent volatility that we’ve seen in the market. 
The whale’s decision to re-enter the market with important leverage suggests its confidence in Ethereum’s potential recovery. 
The on-chain activity comes following the <a href="https://crypto.ro/en/news/bitcoin-price-reached-49k-amidst-global-financial-collapses-wave/">Crypto Black Monday</a> as some in the crypto industry called August 5 when both equities and crypto markets saw significant declines following a “correlation-1” event, as noted by Glassnode. Such an event means that usually uncorrelated assets become correlated and move in the same direction. 
Regarding <a href="https://crypto.ro/en/cryptocurrencies/ethereum/">Ethereum</a>‘s price today, at the moment of writing this article, ETH is trading above $2,640, following the $2,200 dip that the coin experienced at the beginning of August during the global market decline. 
Earlier today, ETH reached prices above $2,700.

Tether Treasury Minted 1B USDT on Ethereum

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