Stablecoin issuer Tether has minted an additional $3 billion in USDt tokens across the Ethereum and Tron networks, bringing its circulating supply to over $134 billion. The latest issuance comes amid heightened crypto market activity, driven by Bitcoin's near-record prices approaching $100,000.
Tether Expands Supply Across Ethereum and Tron
Data from Arkham Intelligence shows that $2 billion USDt was minted on the Ethereum blockchain, while $1 billion USDt was minted on the Tron network on November 23. According to Lookonchain, Tether has issued approximately $13 billion in USDt tokens since November 8, reflecting growing demand in the crypto markets.
Stablecoins like Tether’s USDt are widely used for cryptocurrency trading as fiat on-ramps and off-ramps. A surge in newly minted stablecoins is often considered a bullish indicator, signalling heightened trading activity and investor interest.
Political Shifts and Bitcoin’s Rally Boost Stablecoin Demand
The post-election surge in Bitcoin prices—from $69,000 to over $99,000—has fueled stablecoin demand. Following Donald Trump’s election victory on November 5, the crypto market saw record inflows as investors prepared for potentially favourable regulatory changes under a pro-crypto administration.
Tether’s role in this environment has been amplified by Cantor Fitzgerald's involvement, which manages the U.S. Treasury reserves backing USDt. On November 19, President-elect Trump appointed Cantor Fitzgerald CEO Howard Lutnick as Commerce Secretary, underscoring the firm’s significant influence in the crypto space.
Tether’s Future Vision
Tether CEO Paolo Ardoino hinted at further growth, stating, "In 2025, Tether will need to reach hyper-productivity to accomplish our grand vision." As stablecoin volumes reflect market optimism, Tether’s recent $13 billion minting spree positions it as a key enabler of the ongoing crypto market rally.
The strategic alignment of Tether’s growth, rising Bitcoin prices, and a pro-crypto administration suggest a promising trajectory for the digital asset ecosystem, according to Cointelegraph:
