Tether Issues 1 Billion USDT On TRON Network, USDT Dominates Stablecoin Market

Tether Issues 1 Billion USDT On TRON Network, USDT Dominates Stablecoin Market

Tether has made a significant move in the cryptocurrency market today by issuing an additional 1 billion USDT on the TRON network. The news was confirmed by Whale Alert, a prominent blockchain tracker, in a tweet that provided a link to the transaction details. This move by Tether signifies its commitment to leveraging the TRON network’s fast and low-cost transactions, attracting more users and solidifying its position as the leading stablecoin. This announcement comes as Tether aims to expand its presence and liquidity on the TRON blockchain. Over the past 90 days, the market value of USDT has surged by a staggering $2.6 billion. In contrast, USDC, another popular stablecoin, has witnessed a decrease of $4.6 billion in its market value during the same period. Currently, USDT holds the lion’s share of the stablecoin market, accounting for 65% of the total market value. The latest move by Tether on the TRON network is expected to further strengthen its market dominance. On the other hand, USDC, with a market value decline, now represents 21.4% of the overall stablecoin market. The issuance of 1 billion USDT on the TRON network highlights Tether’s strategy of expanding its offerings on multiple blockchains.