US stablecoin issuer Tether has minted another $1 billion USDT on the Tron network as its circulation reaches record highs.
Tron was ahead of Ethereum for USDT circulation between 2022 and 2024, and it is poised to reclaim that position.The Tron network has drawn closer to regaining the lead from Ethereum in Tether circulation after another big mint by the US stablecoin issuer.In comparison, there is currently $72.8 billion USDT circulating on the Ethereum network, so just $1.
Tron was ahead of Ethereum for USDT circulation between July 2022 and November 2024, but a large $18 billion mint on Ethereum pushed the network ahead again, according to CryptoQuant. The third-largest network for USDT is Solana, which has $1.9 billion circulating, and there are smaller amounts on Ton, Avalanche, Aptos, Near, Celo and Cosmos.Tether’s total circulation is currently at a record high of $149.4 billion USDT, having increased by 8.6% since the beginning of this year. This gives the firm a commanding stablecoin market share of 61%,Stablecoin issuance has surged over the past six months, and they currently represent 8% of the total crypto market capitalization.
Meanwhile, the Stablecoin Transparency and Accountability for a Better Ledger Economy Act, which governs the approval and supervision of “federally qualified nonbank payment stablecoin issuers,” is also going through Congress.
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