- The latest 1B USDT minting on Tron boosts Tether’s annual issuance to $33B, solidifying its market dominance.
- Consecutive mintings on Tron and Ethereum demonstrate Tether’s strategy for stable USDT circulation.
- Market stability may be influenced by Tether’s strategic USDT issuance, aligning with cryptocurrency trends.
Tether, the largest issuer of stablecoins, has minted another 1 billion USDT on the Tron blockchain. This latest minting, recorded on August 20, pushes Tether’s total issuance over the past year to a significant $33 billion. This development underscores the company’s crucial role in the cryptocurrency market.
The blockchain data shows that these newly generated tokens were sent to Tether’s treasury wallet after they were generated. In a recent X post, on-chain analytics platform Lookonchain revealed that Tether has minted approximately 33 billion USDT tokens in the past year. Of these, 19 billion were on the Tron network, and the remaining 14 billion were on Ethereum.
This latest minting on Tron was preceded by a similar one on Ethereum just one week before the occurrence. On August 13, Tether issued one billion USDT tokens on Ethereum, according to Whale Alert – a tracker of large cryptocurrency transactions.
These two consecutive relatively massive releases demonstrate that Tether is a forward-thinking organization when it comes to ensuring stable USDT circulation rates. This token is mainly used as a medium of exchange for trading different cryptocurrencies.
Paolo Ardoino, the Tether CEO, reacted to this Ethereum minting in an X post and stated it was more of a “USDT inventory replenish” process than a free drop into circulation. He pointed out that some of those tokens were authorized but not yet created, so they are stored ready for future requests of issuance and chain swaps.
Tether Launches USDT Stablecoin on Aptos, Promises Low FeesRenowned crypto analyst Ali Martinez commented on Tether’s influence in the digital currency market, comparing the company’s role to that of a central bank. Martinez noted in an X post that Tether’s issuance of new USDT tokens often aligns with market upswings.
This suggests that the stablecoin’s availability can stabilize the broader market. He observed that Tether’s increased minting activity was notable during recent corrections in the Bitcoin market.
Although Tether has not released an official statement regarding the most recent minting on Tron, it likely follows the same strategy as the Ethereum issuance. According to Tether’s Transparency page, as of August 19, the company’s treasury held only $36 million USDT on Tron that were “authorized but not issued.”
This suggests a strong demand for the stablecoin on that network. This latest minting reflects Tether’s ongoing commitment to maintaining liquidity and supporting the broader cryptocurrency ecosystem across multiple blockchain platforms.
