Tether minted $16B USDT since November to meet rising DeFi and trading demand.
Tron leads stablecoin issuance with 37.9% market share, surpassing Ethereum’s dominance.
Tether’s treasury ensures liquidity management by replenishing USDT inventory efficiently.
Tether has minted $16 billion worth of USDT on Ethereum and Tron since November 6 according to Lookonchain. This includes a fresh $1 billion minted just hours ago. The latest mint highlights growing demand for stablecoins amid increasing crypto market activity.
On December 2, Tether minted $1 billion USDT on the Tron blockchain. This follows similar large-scale minting on Ethereum earlier this year. The newly minted USDT was sent to Tether’s treasury wallet to ensure liquidity.
Tether’s reliance on Tron has grown significantly. In the past year, Tron facilitated the minting of 19 billion USDT. During the same period, Ethereum accounted for 14 billion USDT which is comparatively lower than that of Tron’s. Tron’s lower transaction costs and scalability drive its popularity.
Tron now holds 37.9% of the stablecoin market, surpassing Ethereum. The network supports over $61 billion in stablecoins. Tether’s increased activity on Tron reflects its strategy to meet demand while optimizing costs.
Tether’s CEO, Paolo Ardoino, clarified the purpose of these transactions. He said the minting replenishes inventory rather than immediately entering circulation. This ensures supply readiness without causing market disruptions. In total, Tether has minted $33 billion USDT over the last 12 months. These figures underline the growing role of stablecoins in DeFi and crypto trading.
Tether’s activities align with broader market trends. Stablecoins are increasingly used for liquidity in DeFi and payment systems. Ethereum and Tron remain key networks for stablecoin issuance, with Tron emerging as a central hub.
The minting spree showcases Tether’s role as a major liquidity provider. Its treasury wallet ensures seamless management of supply and chain swaps. This helps maintain stability across decentralized ecosystems.
The surge in USDT issuance coincides with Bitcoin’s recent price rally, driven by increased trading activity. As Bitcoin trades above $96K, its increased trading activity demands higher liquidity in stablecoins like USDT. The global trading volume has touched a peak of value of $2.7 trillion after similar surge during 2021.
Tether’s rapid USDT minting reflects heightened demand across various platforms. This trend underscores stablecoins’ importance in the evolving crypto market.
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