🌎 Tether USDT Reaches Record Balance on Tron

The Tether stablecoin, holding the largest market share globally, has seen its balance surge to near all-time highs on the Tron network.

Tether’s USDT Supply on Tron Reaches New Heights

Data indicates that the supply of Tether’s USDT on the Tron network has spiked following two notable $1 billion mints over the past week. This increase has pushed the stablecoin’s circulating supply on Tron toward its highest recorded level.

CryptoQuant analyst JA Maartun highlighted the trend, noting that the rise in USDT on Tron suggests increasing demand. This could be due to stablecoin-driven market activity or a broader need for liquidity.

“Over the past week, two $1.0 billion mints were recorded, bringing the total supply close to its highest level ever. The current USDT Supply on Tron sits at $61.7B.”

Significance of Large Mints

Significantly large mints often indicate one of two things: either the market is experiencing heightened trading activity, or institutional participants are making notable moves.

Tether has minted $1 billion or more in USDT on Tron multiple times, often aligning with spikes in Bitcoin and altcoin prices. On January 6, 2025, the USDT issuer announced a $1 billion chain swap from other blockchain networks to Tron.

Tether’s Growing Demand on Tron

While the chain swap did not impact USDT’s overall supply, it underscored the growing demand for the stablecoin on the TRX-powered network. In several instances, Tron’s price has increased alongside fresh USDT mints and transactions on the blockchain.

Beyond Ethereum and Tron, native USDT is also available on Solana and TON.

Tron’s Surging Fees

Notably, Tron has surpassed Ethereum to become the second-largest network by fees. Tether remains the top fee earner, with over $470 million in fees collected year-to-date.

Here’s a breakdown of the top fee earners: