TRON（TRX）网络超过系绳中的以太坊（USDT）供应

Stablecoin发行人Tether在TRON上造成了另外10亿美元的USDT令牌，从而推动了该网络的授权USDT供应以超过以太坊的供应。

Stablecoin issuer Tether has minted another 1 billion USDt tokens on Tron, pushing the network's authorized USDT supply to surpass Ethereum's.

Stablecoin发行人Tether在Tron上铸造了另外10亿美元的USDT令牌，推动该网络的授权USDT供应超过以太坊的供应。

On May 15, blockchain data showed that Tether's treasury minted $1 billion of its dollar-pegged stablecoin, USDt (USDT), into the Tron network.

5月15日，区块链的数据显示，Tether的财政部将其10亿美元的美元固定型Sta​​blecoin，USDT（USDT）铸成Tron Network。

As of May 14, Tether's stablecoin transparency page shows that Tron has a total of $73.7 billion in authorized USDT assets, while Ethereum has $74.5 billion in authorized USDT tokens. If the newly minted tokens are added to the number of authorized USDT assets, Tron's supply would surpass Ethereum's USDT supply.

截至5月14日，Tether的Stablecoin透明度页面显示，Tron的授权USDT资产总计737亿美元，而以太坊拥有745亿美元的授权USDT代币。如果将新近铸造的代币添加到授权的USDT资产数量中，Tron的供应将超过以太坊的USDT供应。

In terms of circulating supply, Tron also has the lead with $73.6 billion USDT on the network, while Ethereum only has $71.8 billion.

在循环供应方面，Tron在网络上还拥有736亿美元的领先优势，而以太坊只有718亿美元。

However, if the new mint is added to the total circulating supply, then Ethereum still has the lead with $72.5 billion in circulating USDT, while Tron has $71.7 billion.

但是，如果将新的薄荷添加到总循环供应中，那么以太坊仍然拥有725亿美元的循环USDT领先，而Tron拥有717亿美元。

Tether's USDT mints replenish the company's token inventory

Tether的USDT Mints补充了公司的令牌库存

Some of the company's blockchain-based USDT mints are used to replenish their USDT inventory on blockchain networks, said Tether CEO Paolo Ardoino previously on X. This means the tokens will be used for the next batch of issuance requests and chain swaps.

Tether首席执行官Paolo Ardoino先前在X上说，该公司的一些基于区块链的USDT MINT用于补充区块链网络上的USDT库存。这意味着该令牌将用于下一批发行请求和链条交换。

In traditional business settings, inventory replenishment requires stock orders to meet demands. Similarly, Tether may mint USDT to maintain a sufficient supply and hold on to the assets until they are issued officially. This ensures that the firm's liquidity management is smooth.

在传统的业务环境中，库存补充需要股票订单以满足需求。同样，系绳可能会造成USDT，以维持足够的供应并保留资产，直到正式发行。这样可以确保公司的流动性管理顺利。

This means that authorized USDT supply on a network means that the stablecoin issuer anticipates future issuance demand of the stablecoin on a blockchain.

这意味着在网络上授权的USDT供应意味着Stablecoin发行人可以预期在区块链上对Stablecoin的未来发行需求。

Ethereum and Tron battle for USDT supply dominance

以太坊和Tron争夺USDT供应优势

Tron led USDT circulation between July 2022 and November 2024. However, CryptoQuant data showed that an $18 billion USDT mint on Ethereum pushed the network ahead in 2025.

Tron在2022年7月至2024年11月之间领导了USDT发行量。但是，加密数据显示，以太坊上的180亿美元造币厂在2025年推动了该网络。

However, Tron's USDT supply quickly caught up, with the latest mint putting it on top of Ethereum again.

但是，Tron的USDT供应很快就赶上了，最新的薄荷再次将其置于以太坊之上。

According to Tether's transparency page, Solana has the third-most supply of USDT in the market, with $2.3 billion authorized on the network. Avalanche has $1.8 billion in authorized USDT, making it the fourth-largest network in authorized USDT supply. While Avalanche has over $1 billion in authorized USDT, the network only has a net circulation of $752 million in tokens.

根据Tether的透明度页面，Solana在市场上拥有第三大的USDT供应，该网络授权了23亿美元。雪崩拥有18亿美元的授权USDT，使其成为授权USDT供应中第四大网络。尽管Avalanche拥有超过10亿美元的授权USDT，但该网络的净流通量为7.52亿美元。

Meanwhile, The Open Network, Aptos, Near, Celo and Cosmos have smaller authorized and circulating USDT supplies.

同时，开放网络，Aptos，附近，Celo和Cosmos具有较小的授权和流通的USDT用品。

CoinGecko data shows that Tether's total circulation is at a record high of $150 million, a 9.4% increase compared to its supply at the start of 2025. This gives the stablecoin issuer 61% of all the USD stablecoins in the market.

Coingecko数据显示，与2025年初的供应相比，Tether的总发行量达到了1.5亿美元的创纪录高度，增长了9.4％。这使Stablecoin发行人在市场上所有美元的Stablecoins中的61％。

Circle, its closest competitor, has $60.4 billion in stablecoins, giving it a market share of 24.6%, according to CoinGecko.

根据Coingecko的数据，最接近的竞争对手Circle拥有604亿美元的Stablecoins，其市场份额为24.6％。