Tether, the issuer of the world's largest stablecoin USDT, has minted $2 billion worth of the cryptocurrency within a few hours
Tether, the issuer of the world's largest stablecoin, has minted $2 billion worth of Tether (USDT) in a few hours, with each minting being for $1 billion.
The minting took place on the Tron (TRX) network and pushes the total supply of USDT to over $151 billion. It also brings Tether's total issuance for 2025 to $15 billion.
Two Billion USDT Minted on Tron
The first billion USDT, which is equal to $1 billion USD, was minted at the Tether Treasury. Shortly after, another billion was minted, bringing the total to $2 billion in new USDT.
This huge increase in supply took place on the Tron blockchain. Tron is now seeing more USDT activity than Ethereum (ETH), with a total supply of over $73 billion compared to Ethereum’s $71.9 billion.
Tron leads with more than $73 billion in USDT supply, while Circle's USDC is in third place with $60.7 billion.
The stablecoin market has seen huge growth this year. Nearly $130 billion in May 2023, the total stablecoins are now nearly $240 billion.
USDT is now 4.47% of the total crypto market.
Tron's rise in USDT supply marks a historical milestone as it surpasses Ethereum for the first time and brings it to an all-time high for USDT on the Tron network.
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