What’s Fueling Demand for Tether’s $1 Billion USDT Mint on Tron?
In a high-activity week, Tether minted an additional 1 billion USDT tokens, bringing the total mint for the year to $33 billion. The company’s treasury wallet received these tokens shortly after the Tron blockchain created them, as confirmed by blockchain data.
Last Tuesday at 20:43 UTC, Whale Alert verified this major transaction, which has spurred discussions about the increased demand for Tether.
Tether CEO Clarifies New Mint as “Authorized But Not Issued”
Tether CEO Paolo Ardoino explained that the newly minted tokens are “authorized but not issued,” meaning they are held in Tether’s inventory for future issuance or chain swap requests. These tokens have yet to enter circulation and are reserved for upcoming demand on the Tron network. Tether’s transparency site also reflects this, with $1.05 billion under “authorized but not issued.”
The Tron network has been instrumental in USDT growth, generating over $20 billion in Tether tokens as of October 29, representing almost half of the circulating supply of USDT. Currently, 51% of Tether’s $120 billion in circulating tokens are on Tron, followed by Ethereum, which holds about 45% of Tether’s supply.
What’s Next for Tether?
The latest mint has raised speculation about Tether’s future in the stablecoin market, particularly in light of recent Bitcoin price increases. As crypto prices climb, demand for USDT seems to follow, as stablecoin supply growth is often associated with rising crypto prices. Tether’s influence remains significant, as its minting actions can signal demand and impact market sentiment.
