Stablecoin issuer Tether has minted an additional 1 billion USDT tokens on the Tron network, raising the total amount of USDT minted in the past year to $33 billion.
On August 20, blockchain data revealed that Tether minted these 1 billion Tether tokens on the Tron network and transferred them to its treasury wallet. According to on-chain analytics platform Lookonchain, the “Tether Treasury” wallet has minted a staggering $33 billion in stablecoin tokens over the last year.
The data platform further disclosed that 19 billion USDT tokens were minted on the Tron network, while 14 billion tokens were created on the Ethereum blockchain.
Tether Replenishes Stablecoin Inventory
Tether's latest mint on Tron follows a similar $1 billion mint on the Ethereum network. On August 13, data tracking platform Whale Alert flagged a transaction indicating that the stablecoin issuer had added another 1 billion USDT on Ethereum.
Tether CEO Paolo Ardoino explained on X (formerly Twitter) that the $1 billion transaction was simply a “USDT inventory replenish” on Ethereum. Ardoino clarified that the transaction was authorized but not yet issued, meaning the tokens will serve as inventory for the issuer's upcoming issuance requests and chain swaps.
"In traditional businesses, inventory replenishment requires stock orders to meet demands," Ardoino noted. "Similarly, Tether may create USDT to maintain a sufficient supply and hold them until they are officially issued." This strategy ensures smooth liquidity management without an immediate release into circulation.
Bitcompare reached out to Tether for comments but did not receive an immediate response.
Although Tether has not released an official statement regarding the new 1 billion tokens on Tron, it is likely that these tokens serve the same purpose as the recently minted USDT on Ethereum.
According to Tether’s Transparency page, as of August 19, the stablecoin issuer's treasury holds only $36 million USDT tokens on Tron that are "authorized but not issued." This suggests that Tether may be running low on USDT on the Tron network, indicating a strong demand for the stablecoin on this blockchain.
Tron currently dominates the stablecoin supply market. As of August 16, data from Coin Metrics showed that the network commands 37.9% of the total stablecoin market share, with over $61 billion in stablecoins circulating on its blockchain.
