Tether continues to expand its stablecoin issuance, recently minting another $1 billion USDT on the Ethereum network. This event follows a similar transaction on the Tron network days earlier.
Introduction to Tether's Issuance
On November 18, Tether minted another $1 billion USDT on Ethereum. This transaction is part of a series of transactions conducted by the company this month. According to Tether, more than $125 billion USDT is currently in circulation.
Current USDT Situation on Ethereum and Tron
The Ethereum network leads in authorized USDT issuance with a total of $62.9 billion, while Tron holds $62.7 billion. The newly minted stablecoins will be kept in reserve for future market demands. According to Arkham Intelligence, Tether also minted $1 billion USDT on Tron on November 14.
Tron Network Activity in 2024
Tronscan data indicates that Tron recorded over $577 million in revenue in Q3 2024, with a significant portion coming from staking and burning. Justin Sun attributed this growth to Tron's expansion into NFTs, Memecoins, and DeFi.
Tether's issuance and Tron's network activity highlight the significance of stablecoins in the crypto economy, attracting continued interest in more stable digital assets.
