Tether, the largest stablecoin issuer, has minted $2 billion USDT in the last four days, bringing the total minted on Ethereum and Tron since November 6 to $19 billion. These funds have been flowing into various cryptocurrency exchanges, fueling market activity. Bitcoin also reached a milestone by crossing the $100,000 mark twice during the same period, highlighting the impact of the rally on the broader crypto market. Ethereum and Tron hold similar amounts of circulating USDT, though Ethereum has a larger network. Tron generated $577 million in revenue in Q3 2024, with a significant portion coming from stablecoin-related activities. Ethereum has the largest market share of stablecoins at 55.7%, while Tron holds the second-largest share at 37.9%. Tether CEO Paolo Ardoino emphasized the importance of hyper-productivity by 2025. The increase in stablecoin issuance indicates strong demand and is seen as a bullish sign for market sentiment. Stablecoins play a crucial role in the crypto ecosystem, providing liquidity and price stability. Tether's role in shaping market trends is significant, and Ethereum and Tron continue to compete for dominance, driving innovation in the blockchain space. The stablecoin market is expected to experience sustained growth due to rising demand.
- Content Editor ( thenewscrypto.com )
- 2024-12-07
Stablecoin Issuer Tether Mints $2B USDT on Tron and Ethereum