{"id":90421,"date":"2024-08-20T07:17:05","date_gmt":"2024-08-20T11:17:05","guid":{"rendered":"https:\/\/coinscreed.com\/staging\/?p=90421"},"modified":"2024-08-20T07:28:18","modified_gmt":"2024-08-20T11:28:18","slug":"tether-mints-1b-usdt-on-tron-network","status":"publish","type":"post","link":"https:\/\/coinscreed.com\/staging\/tether-mints-1b-usdt-on-tron-network\/","title":{"rendered":"Tether Mints $1B USDT on Tron Network"},"content":{"rendered":"\n

The new tokens were transferred to Tether's Treasury wallet, likely for future issuance.<\/p>\n\n\n\n

\"Tether
Tether Mints $1B USDT on Tron Network<\/figcaption><\/figure>\n\n\n\n

The stablecoin issuer Tether has produced another one billion USDT tokens on the Tron network. This brings the total amount of USDT tokens minted over the past year to $33 billion.<\/p>\n\n\n\n

On August 20, blockchain data revealed that Tether had issued one billion dollars worth of Tether tokens on the Tron network and then transferred them to its Treasury wallet<\/a>.<\/p>\n\n\n\n

The “Tether Treasury” wallet is responsible for the creation of stablecoin tokens worth $33 billion over the course of the previous year, as reported by the onchain analytics platform Lookonchain.<\/p>\n\n\n\n

\"\"
Tether mints 1 billion USDT tokens on Tron. Source: Tronscan<\/figcaption><\/figure>\n\n\n\n

The data platform provided this information, stating that the Tron network produced 19 billion USDT tokens, while the Ethereum blockchain<\/a> created 14 billion tokens. The one billion token mint on Tron that it has completed comes after another token mint of the same value on Ethereum. <\/p>\n\n\n\n

On the thirteenth of August, the data tracking tool known as Whale Alert identified a transaction that demonstrated that the stablecoin issuer added an additional one billion on Ethereum. <\/p>\n\n\n\n

Tether's Chief Executive Officer, Paolo Ardoino<\/a>, stated on X that the transaction worth one billion dollars was nothing more than a “USDT inventory replenish” on Ethereum. Despite the executive's assertion of transaction authorisation, the issuer did not actually issue the transaction. <\/p>\n\n\n\n

This suggests that the issuer will use the transaction as inventory for the upcoming batch of issuance requests and chain swaps. In traditional organizations, inventory replenishment necessitates placing stock orders to satisfy customer expectations. <\/p>\n\n\n\n

To maintain an adequate quantity of the cryptocurrency and hold onto it until its official distribution, Tether may generate USDT. As a result, it guarantees that liquidity management will proceed without an abrupt release into circulation.<\/p>\n\n\n\n

Despite the fact that they did not issue any formal announcements concerning the newly issued one billion tokens on Tron, it is highly probable that these tokens will serve the same role as the USDT tokens that were just recently created on Ethereum. <\/p>\n\n\n\n

According to Tether's Transparency page, as of August 19, the stablecoin issuer's treasury only held $36 million “authorised but not issued” USDT tokens on Tron. <\/p>\n\n\n\n

This indicates that there is a significant demand for the stablecoin on the Tron network\r\n \r\n \r\n \r\n <\/g>\r\n \r\n \r\n \r\n <\/clipPath>\r\n <\/defs><\/svg><\/span><\/a>, which leads to the possibility that Tether is running low on USDT on the Tron network. Currently, Tron is the most dominant stablecoin supply market. <\/p>\n\n\n\n

The network controls 37.9% of the entire stablecoin market share, according to data provided by Coin Metrics on August 16th. Additionally, there are approximately $61 billion worth of stablecoins stored on the blockchain. <\/p>\n","protected":false},"excerpt":{"rendered":"

The new tokens were transferred to Tether’s Treasury wallet, likely for future issuance. The stablecoin issuer Tether has produced another one billion USDT tokens on the Tron network. This brings the total amount of USDT tokens minted over the past year to $33 billion. On August 20, blockchain data revealed that Tether had issued one […]<\/p>\n","protected":false},"author":62,"featured_media":90426,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21],"tags":[926,1103,11983],"class_list":["post-90421","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-stablecoins","tag-tether","tag-ton-network"],"jetpack_featured_media_url":"https:\/\/coinscreed.com\/staging\/wp-content\/uploads\/2024\/08\/images-3-3.jpeg","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts\/90421","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/users\/62"}],"replies":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/comments?post=90421"}],"version-history":[{"count":0,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts\/90421\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/media\/90426"}],"wp:attachment":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/media?parent=90421"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/categories?post=90421"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/tags?post=90421"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}