- New token issues on Tron
- Stablecoin inventory replenishment
- Current data and opportunities
Stablecoin issuer Tether has minted another 1 billion tokens on the Tron network, bringing the total USDT minted in the last year to $33 billion.
New token issues on Tron
On August 20, blockchain data showed that Tether minted $1 billion in USDT tokens on the Tron network and sent them to the Tether Treasury wallet. According to the onchain analytics platform Lookonchain, the Tether Treasury minted $33 billion in stablecoin tokens last year. Of these, 19 billion were minted on the Tron network and 14 billion on the Ethereum blockchain.
Stablecoin inventory replenishment
The latest mint on Tron follows another token mint of the same value on Ethereum. On August 13, data tracking platform Whale Alert flagged a transaction that showed that the stablecoin issuer added another $1 billion on Ethereum. Tether CEO Paolo Ardoino explained that the $1 billion transaction was simply a 'USDT inventory replenish' on Ethereum that was authorized but not issued. This means the tokens will be used for the issuer’s next batch of issuance requests and chain swaps. Such a strategy helps maintain a sufficient supply and ensures smooth liquidity management.
Current data and opportunities
According to Tether’s Transparency page, as of August 19, the stablecoin issuer’s treasury only had $36 million USDT tokens on Tron that were 'authorized but not issued.' This suggests a strong demand for the stablecoin on the Tron network. Currently, Tron leads the stablecoin supply market. Coin Metrics Network data showed that the network commands 37.9% of the total stablecoin market share, with over $61 billion in stablecoins on the blockchain.
The recent minting of 1 billion USDT tokens on the Tron network underscores the current demand for the stablecoin and the company's strategy to maintain reserves to ensure liquidity.
