Tether increased reserves by 1 billion USDT on the TRON network

• Tether added another 1 billion USDT to its reserves on the TRON network.
• The company last issued stablecoins in February 2024.
• At the time of publication, USDT capitalization is $97.8 billion, dominance is 70.37%.

Tether, the issuer of the USDT stablecoin, has authorized the issuance of another 1 billion coins on the TRON network. The last time it replenished its reserves was in February 2024. Then Tether also printed 1 billion USDT.

The company’s CTO Paolo Ardoino noted on his X (formerly Twitter) that the volume of TRON-based stablecoins has been authorized but not released. According to him, this means that it will be used for further emission or swaps between blockchains.

What is the USDT stablecoin from Tether and why is it needed?

08/09/2023

26 min

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At the time of writing, USDT’s capitalization is $97.8 billion:

. Данные: TradingView.” class=”wp-image-208401″ srcset=”https://incrypted.com/wp-content/uploads/2024/02/image-87.png 953w, https://incrypted.com/wp-content/uploads/2024/02/image-87-300×156.png 300w, https://incrypted.com/wp-content/uploads/2024/02/image-87-768×401.png 768w” sizes=”(max-width: 953px) 100vw, 953px”>Капитализация USDT. Data: TradingView.

According to DeFiLllama, USDT dominates the market at 70.37%.

Let us remind you that Tether previously authorized the release of 1 billion USDT on the Ethereum network.