According to the on-chain analytics platform Lookonchain, the issuer of the Tether stablecoin has issued another 1 billion tokens on the Tron network, bringing the total amount of USDT minted over the past year to 33 billion.
On August 13, data tracking platform Whale Alert recorded a transaction showing that Tether added another 1 billion USDT to the Ethereum blockchain. According to the Tether CEO, Paolo Ardoino, the stablecoins transfer to Ethereum was just a “restocking” of the asset on the network. He explained that they authorized the USDT 1 billion transaction but did not execute it. As a result, they will use the tokens to maintain the required stockpile, and they won’t immediately print them into circulation.
Most likely, the goal of the USDT 1 billion issue on the Tron network is the same, but there hasn’t been any official statement concerning this from Tether. The stablecoin issuer has 36 million USDT in its treasury on the Tron network that they authorized but unissued as of August 19. In other words, Tron‘s stock of tokens is probably running out. For example, USDT currently holds 37.9 percent of the total market share of all stablecoins and ranks first among comparable tokens.