Ethereum

Stablecoin

2024

Billion

<ul class="wp-block-list">
  
 <li>Tether minted $1 billion USDT on Tron, boosting its 2024 total issuance to $33 billion amid surging stablecoin demand.</li>   
 <li>Tron now holds 37.9% of the stablecoin market, surpassing Ethereum, with $61 billion in stablecoins on its network.</li>   
 <li>Tether’s inventory strategy ensures liquidity, enabling swift issuance requests and chain swaps across multiple blockchains.</li> 
</ul>   
<p>Tether has minted an additional $1 billion USDT on the Tron blockchain, reinforcing its position as a leader in stablecoin issuance. This development follows a similar issuance on Ethereum weeks earlier, <a href="https://cryptonewsland.com/tether-mints-2-billion-usdt-on-ethereum-as-crypto-market-anticipates-growth/" target="_blank" rel="noreferrer noopener">marking</a> another milestone in Tether’s supply strategy. The move comes amid surging demand for stablecoins, especially in decentralized finance and cryptocurrency trading.</p>   
<p>In addition, the $1 billion minted on Tron was transferred to Tether's treasury wallet. This strategy helps the company manage its inventory and maintain operational flexibility. Tether's approach ensures it can meet issuance requests promptly while supporting chain swaps and addressing liquidity needs.</p>   
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter">
 <div class="wp-block-embed__wrapper">
   https://twitter.com/lookonchain/status/1862517137849688566 
 </div>
</figure>   
<h2 class="wp-block-heading" id="h-tron-dominates-stablecoin-market-share"><strong>Tron Dominates Stablecoin Market Share</strong></h2>   
<p>Notably, Tron has emerged as a significant network for stablecoin transactions, surpassing Ethereum in market share. As of mid-August, Tron accounted for 37.9% of the stablecoin market, cementing its dominance. Its network holds over $61 billion in stablecoins, highlighting its growing importance in the digital asset ecosystem.</p>   
<p>Moreover, Tether’s preference for minting USDT on Tron aligns with the blockchain's scalability and lower transaction costs compared to Ethereum. In the past year, Tron facilitated 19 billion USDT issuances, outpacing Ethereum's 14 billion. This trend underscores Tron’s role as a cost-efficient and fast network for stablecoin users.</p>   
<h2 class="wp-block-heading" id="h-record-breaking-year-for-tether"><strong>Record-Breaking Year for Tether</strong></h2>   
<p>Furthermore, the latest issuance caps a strong month for Tether, which <a href="https://cryptonewsland.com/december-is-here-explore-leading-altcoins-tron-at-record-highs-hbars-surge-altcoin-raises-20m-in-just-48-hours/" target="_blank" rel="noreferrer noopener">minted</a> $16 billion USDT in August alone. This brings its total issuance for the year to an impressive $33 billion. Such figures demonstrate the rising demand for stablecoins as DeFi and blockchain-based payment systems expand globally.</p>   
<p>Tether's CEO, Paolo Ardoino, clarified that the large-scale transactions primarily replenish inventory rather than immediately circulating tokens. This method supports liquidity and operational flexibility, ensuring the company meets the market's growing demand seamlessly.</p>   
<p>Consequently, Tether continues to utilize multiple blockchains to diversify its operations and cater to a broader range of users. However, Tron remains a central network due to its cost-effectiveness and ability to scale efficiently. This strategy reflects broader trends in the stablecoin market, where users prioritize faster and more affordable solutions.</p> 
<p>The post <a href="https://cryptonewsland.com/tether-issues-1-billion-usdt-on-tron-to-address-growing-market-demand/">Tether Issues $1 Billion USDT on Tron to Address Growing Market Demand</a> appeared first on <a href="https://cryptonewsland.com">Crypto News Land</a>.</p>

Tether Issues $1 Billion USDT on Tron to Address Growing Market Demand

Table of Contents

Crypto News Land

Other articles published on Nov 30, 2024

Ethereum Foundation Invests Millions in zkVMs as ETH Eyes $4,000 Target Amid Bullish Upgrades

Pepeto: The God of Frogs Nears $1M, drawing Shiba Inu, Dogecoin holders for big gains

Quantoz Unveils MiCA-Compliant Stablecoins USDQ and EURQ Backed by Tether and Kraken

Inside the Bitcoin megaforce that is MicroStrategy

Modernizing Crypto Payments, Decentralized Platforms, and Scalability—Best Cryptos to Buy in Dece...

Cardano Price Prediction for 2024: Here’s Why ADA Price is Poised for a 40% Upswing in December

Join our free newsletter for daily crypto updates!