- Tether has minted $8 billion USDT across Tron and Ethereum since April 28.
- USDT’s total circulation hits an all-time high of $149.4 billion.
- Tether plans to launch “Tether AI” to enhance Bitcoin and USDT transaction volumes.
The largest stablecoin issuer in the world, Tether, has just created $8 billion worth of USDT on the Tron and Ethereum blockchain networks, as reported by SpotOnChain post on X.
This increase in stablecoin creation is anticipated to offer notable liquidity to the cryptocurrency market, therefore possibly triggering a rally and enabling it to escape its present consolidation stage. Tether’s USDT supply increase over the last week has been mostly driven by its aggressive minting policy, which now sits at an all-time high of $149.4 billion.
Tether’s Growth on the Tron Blockchain
Notably, Tether created $1 billion USDT on the Tron blockchain only four hours ago. This latest issuance carries on Tether’s continuous plan to increase its supply over several blockchains. Total USDT minted on both Tron and Ethereum since April 28 is $8 billion. This fast growth highlights the increasing need for stablecoins in trading platforms and DeFi (decentralized finance) environments.
Particularly noteworthy is the minting activity on the Tron blockchain, which raises the total USDT supply on Tron to $71.4 billion. With $72.8 billion USDT in supply, Ethereum still has more circulation, though. Tether’s USDT creation on Tron and Ethereum has boosted the stablecoin’s market share, therefore surpassing rivals like USDC and BUSD.
Tether’s Increasing Market Share
Tether now rules the stablecoin market with a dominant position given its recent rise in supply. Reaching an all-time high of $149.4 billion, USDT’s total circulation has grown 8.6% since the beginning of the year. Of the whole stablecoin market, USDT now makes up about 61%.
Tron is the second-largest USDT network as of now, as Ethereum still leads. With $1.9 billion USDT in circulation on the network, Solana ranks third. Tether’s calculated increase of its stablecoin supply on these networks positions it well for ongoing expansion and control in the stablecoin sector.
Tether’s Artificial Intelligence Development
Tether’s CEO, Paolo Ardoino, has suggested a new product targeting decentralized applications (dApps) will be launched soon if one looks forward. Expected to increase Bitcoin and USDT transaction volumes upon launch, “Tether AI” is this product. Although information is scant, Tether’s foray into artificial intelligence might provide fresh chances for expansion and help to confirm its status as a top stablecoin issuer.
As the global demand for stablecoins continues to grow. Tether’s rapid minting of USDT signals the increasing reliance on digital currencies for trading and liquidity purposes. The next months will show how Tether’s growth and new artificial intelligence product will affect the larger cryptocurrency market.
