- Tether minted $1 billion USDT to meet market demand and strengthen trust in crypto.
- Ethereum remains the leading platform for USDT issuance, with over $62 billion authorized.
- Tron’s revenue grows as lower fees attract users, making it a strong competitor in peggedcoins.
Tether Treasury minted another $1 billion USDT thanks to the Ethereum system on November 18, according to Etherscan. This came just days after Whale Alert reported a similar $1 billion transfer on the Tron platform. The decision to mint USDT tokens reflects the increasing demand for stablecoins and the need to ensure liquidity within the digital asset sector. As a stablecoin, USDT provides much-needed stability in an often volatile market.
Tether has now issued over $125 billion USDT, solidifying its position as the largest provider. Since USDT is pegged to the US dollar, it provides a stable value that traders and capitalists trust. Hence, many users prefer USDT to protect themselves from price swings within the crypto industry. This increasing reliance on stablecoins emphasizes their importance in digital goods deals, especially when large market shifts occur.
Ethereum’s Central Role in USDT Minting
Ethereum continues to lead as the top platform for USDT issuance, with $62.9 billion USDT authorized on the network. This figure is just slightly ahead of the $62.7 billion authorized on the Tron network. Ethereum’s strong network and extensive use in decentralized finance applications contribute to its attractiveness for USDT transactions. Ethereum also remains a popular choice for minting USDT due to its smart contract capabilities, which allow seamless integration with other blockchain services.
The coin’s widespread adoption makes it an ideal means for minting and sending digital funds. The Ethereum protocol is used not only for trading digital tokens but also in NFTs, DeFi, and other blockchain-based programs. Consequently, it remains a crucial resource on this forum, facilitating a wide range of trades and ensuring liquidity for users worldwide.
Tron’s Growing Role in Stablecoin Usage
While the token leads the stabilised currency sector, the Tron network has also seen substantial growth. On November 13, Tether transferred $1 billion USDT to the coin’s network. However, Tether CEO Paolo Ardoino confirmed that this was an authorized transaction, not a newly minted one.
Tron has continued to expand, with over $577 million in revenue reported for Q3 2024. A large portion of this income came from stakes, which accounted for 73%, while burning contributed the remaining 26%. Additionally, Tron’s lower exchange fees offer a major advantage over other blockchain systems, such as ETH and BTC, making it appealing to users seeking cost-effective solutions.
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