Tether, the leading stablecoin issuer, has once again made headlines by minting an additional $1 billion USDT tokens on the Tron network. This move brings the total USDT minted over the past year to a staggering $33 billion. On August 20, blockchain data revealed that Tether’s treasury wallet received the newly minted tokens, sparking discussions across the crypto space.
According to data from Lookonchain, a blockchain analytics platform, Tether’s treasury minted 19 billion USDT tokens on the Tron network over the last year, while another 14 billion tokens were created on Ethereum. This latest mint on Tron follows a similar transaction on August 13, where Tether added another $1 billion to the Ethereum network. Tether’s CEO, Paolo Ardoino, clarified on social media platform X that the $1 billion on Ethereum was merely an “inventory replenishment,” meaning the tokens were prepared for future issuance rather than immediate circulation.
The concept of inventory replenishment in stablecoins mirrors traditional business practices, where stock is ordered to meet demand. Tether’s recent actions suggest that they are managing their USDT supply carefully, ensuring there is enough liquidity for upcoming issuance requests and chain swaps.
Despite the lack of an official statement from Tether regarding the new tokens on Tron, it is widely believed that this move serves the same purpose as the Ethereum minting. The latest figures from Tether’s Transparency page indicate that the treasury holds just $36 million USDT tokens on Tron that are authorized but not yet issued, hinting at strong demand for USDT on the Tron network.
Currently, Tron dominates the stablecoin market, holding a 37.9% share with over $61 billion in stablecoins circulating on its blockchain, making it the largest player in this rapidly growing sector.