Tether has minted another $1 billion worth of USDT tokens on the TRON blockchain, potentially boosting its market cap to $117 billion. This move aims to enhance liquidity within the TRON ecosystem.
Tether (USDT), the largest stablecoin issuer by market capitalization, has minted $1 billion more USDT coins for TRON. According to TRON explorer, the tokens were minted and sent to Tether’s Treasury address on August 20.
Though it’s unclear if the tokens were released into circulation, Tether’s Transparency report shows no changes in authorized tokens since August 19. Tether CEO Paolo Ardoino noted on X that USDT’s market capitalization has now reached $117 billion.
As of press time, USDT tokens in TRON circulation remain around $60.8 billion, according to the Transparency report.
Tether boosts liquidity on TRON
Earlier Tether transactions had raised market liquidity speculation. However, Ardoino clarified previous minting operations were “authorized but not issued transactions.”
Should Tether issue the $1 billion USDT tokens into circulation, TRON would surpass Ethereum in USDT liquidity. TRON currently holds $60.8 billion in USDT, while Ethereum has about $53 billion. Other networks like Solana and Algorand lag by several billion dollars, according to Tether’s data.
