Tether Adds $1 Billion USDT to Tron, Surpassing Ethereum

Tether has recently minted an additional $1 billion in USDT on the Tron blockchain, pushing Tron’s total USDT supply to $61.8 billion and surpassing Ethereum's $52.1 billion.

This significant expansion underscores Tron’s growing prominence in the stablecoin market, attributed to its efficient transaction processing and lower operational costs.

In the past year, Tether has performed $1 billion USDT mints on Tron eighteen times, reflecting the increasing demand for stablecoins within the crypto space. On August 13, Tether also added $1 billion USDT to Ethereum to replenish its supply, a standard procedure rather than a new issuance, according to Tether’s CEO, Paolo Ardoino.

The company’s transparency report highlights large amounts of USDT authorized but not yet issued on various networks, including $1.1 billion on the Ton network and $601 million on Ethereum.

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Tron has recently gained significant traction, partly due to its new memecoin platform, SunPump. Justin Sun, Tron’s founder, praised the network’s liquidity, which he believes supports the thriving memecoin sector. With its growing USDT supply and enhanced liquidity, Tron is establishing itself as a key player in the stablecoin ecosystem, outpacing other major blockchains like Ethereum and Solana.

This expansion of USDT on Tron reflects broader trends in the stablecoin market, where efficiency and cost-effectiveness are increasingly important. As demand for stablecoins continues to rise, Tron’s ability to provide high liquidity and rapid transaction speeds positions it favorably in the competitive landscape, potentially influencing future trends and developments in the crypto space.

Alexander Stefanov