Tether has minted $1 billion in Tether-US dollar (USDt) stablecoins on the Tron network, reportedly incurring no transaction fees, as indicated by onchain analytics firm Arkham Intelligence. The significant transaction took place on November 14, originating from a 'black hole address' and moving to Tether's multi-signature wallet. Shortly after the minting, the funds were transferred to Tether's Treasury, again without transaction fees. The Tron network's low fees have made it an attractive option for stablecoin operations, especially beneficial for recipients in regions with high remittance costs. As per Tether's transparency page, USDt authorized on the Tron network stands at $62.7 billion, nearly equivalent to the $62.9 billion on Ethereum, despite Ethereum's larger ecosystem. August 2024 marked Tron as the leading blockchain for stablecoin market share, with Tether's recent minting aimed at replenishing supply to facilitate trading activities. Digital asset traders view the stablecoin supply as a sentiment gauge, with increases signaling bullish market conditions.

Source 🔗