Tether Mints $1 Billion USDT on Tron, Reaching 33 Billion in Yearly Issuance

Last Updated on August 20, 2024

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An investor analyzing the price of tether, the token coin $USDT on a crypto exchange screen. Source: maurice norbert - stock.adobe.com

Key Takeaways:

Tether minted an additional $1 billion USDT on the Tron network, contributing to its $33 billion total minted in 2024.
The minting supports Tether’s inventory for future issuance and chain swaps, rather than immediate circulation.
Tron maintains a 37.9% share of the stablecoin market, with over $61 billion in stablecoins circulating on its blockchain.

Tether, the leading stablecoin issuer, minted an additional $1 billion USDT on the Tron network, bringing its total USDT minted this year to $33 billion.

This includes $19 billion on Tron and $14 billion on Ethereum.

Tether Treasury minted 1B $USDT on #TronNetwork again 25 minutes ago!#TetherTreasury has minted 33B $USDT in the past year, of which 19B $USDT was minted on #TronNetwork and 14B $USDT was minted on #Ethereum.https://t.co/2wFo2DEvz3 pic.twitter.com/DntKu0WC5A
— Lookonchain (@lookonchain) August 20, 2024

The latest mint on Tron, like a previous $1 billion issuance on Ethereum, is intended to replenish Tether’s stablecoin inventory for future issuance requests and chain swaps, rather than immediate circulation.

Tether’s approach maintains market liquidity without oversaturating it with new tokens.

TETHER MINTS $33B USDT IN THE PAST YEAR ALONE

– Data from on-chain analytics firm, Lookonchain, shows that stablecoin issuer Tether has just minted some $1 billion worth of its $USDT asset on the @TronDao blockchain, according to a recent report from Cointelegraph.

– The data… https://t.co/f7qc2QXZIp pic.twitter.com/qjzIxWH8fk
— BSCN (@BSCNews) August 20, 2024

Tron, which currently holds 37.9% of the stablecoin market share, continues to dominate with over $61 billion in stablecoins circulating on its blockchain.

This latest mint reflects the strong demand for USDT on Tron, as Tether manages its supply to meet ongoing market needs.

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