Recently, Tether Holdings, the issuer of USDT, minted $1 billion of the stablecoin on Ethereum.
The rising demand for USDT has positively impacted the InQubeta presale, bringing it closer to $2 million.
This article explores the connection, examines Tether’s actions, and looks at the increasing interest in InQubeta’s presale.
Tether minting billions of USDT
On June 12, Tether minted $1 billion USDT on Ethereum.
This is the second time Tether has released $1 billion USDT, bringing the total amount generated in 2023 to over $16 billion.
Tether’s chief technology officer, Paolo Ardoino, said the recent USDT mint was part of a “restoration of inventory” on Ethereum.
It is considered an “authorized but not issued transaction” and will not affect the overall market cap of USDT. Instead, the newly generated sum will be used as inventory for future issuance requests and chain swaps.
Chain swapping is the method traders use to transfer digital assets from one blockchain to another. Tether collaborates with other platforms to help balance USDT liquidity across various blockchains.
For example, if a crypto exchange has excess USDT on Ethereum but lacks USDT on Tron, they may request a chain swap to transfer some USDT from Ethereum to Tron for processing withdrawals.
Rising demand for the InQubeta presale
InQubeta is a platform that facilitates fractional investment in AI startups through its native token, QUBE.
The deflationary ERC-20 token is designed to incentivize investors and supporters who believe in the growth and potential of AI technology startups.
In addition, the platform also has a non-fungible token (NFT) marketplace, which is critical for investment. AI startups create reward and equity-based NFTs, representing various rewards and ownership stakes in their companies.
These NFTs are listed on the InQubeta marketplace, where potential investors can browse and choose the ones they want to invest in.
Investors can use QUBE to purchase NFTs, ensuring secure and efficient transactions enabled by the blockchain and smart contracts.
The demand for QUBE is rising as more investors show interest in the protocol and startups, pushing the InQubeta presale amount closer to the $2 million mark.
The current surge in demand for InQubeta’s presale can be attributed to the growing interest in investing in AI startups through the unique investment opportunity provided by QUBE and InQubeta’s NFT marketplace.
This has led to an increase in the number of investors seeking to participate in the platform and support the growth of AI technology startups, resulting in a rise in the demand for QUBE.
As a result, the presale is now closer to reaching its target of $2 million.
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