Tether Mints 1 Billion USDT on Tron to Boost Liquidity and Growth
Key Points:
- Tether minted 1 billion USDT on the Tron blockchain, sparking market excitement.
- USDT’s popularity continues to grow on Justin Sun’s Tron network due to its lower fees and faster transactions.
- Meanwhile, Tron’s native token, TRX, showed lackluster performance.
Tether, the leading stablecoin issuer, has once again made headlines by minting 1 billion USDT on the Tron network. This move is aimed at enhancing liquidity and funding development initiatives on one of the world’s most prominent blockchains.
Massive USDT Minting on Tron According to a Lookonchain post on April 28, Tether minted an additional 1 billion USDT on Tron. This latest mint pushes the total USDT created on the network since January 29 to an impressive 12 billion coins.
Currently, the total USDT supply on Tron stands at around $71.7 billion. Tron’s appeal lies in its lower transaction fees and faster processing times compared to other networks, helping it become a major hub for USDT transactions.
Tether’s expanding footprint on Tron has introduced a significant wave of liquidity. Historical trends suggest that Tether’s minting activity often coincides with Bitcoin price rallies — and BTC has recently surged nearly 10% over the past week, reaching $95,000. Major altcoins like ETH, XRP, and SOL have also climbed between 8% and 10% during the same period, further fueling industry momentum.
However, some analysts caution that the recent mint could be a false signal. Regardless, overall market sentiment remains bullish with the influx of stablecoins on the network.
Despite this, Tron’s native token TRX has not mirrored the broader market’s optimism. TRX dipped around 1% to $0.2456, with only a modest 1.5% gain over the past week. Daily trading volume for TRX also fell by 15%, now sitting at approximately $519.69 million.
Additionally, TRX futures open interest dropped over 3% to $231.75 million, while derivatives volume slipped 14% to $235.5 million. These metrics have sparked mixed reactions among market participants, despite Tether’s aggressive stablecoin expansion on Tron.
