Tether Mints $1 Billion USDT on Tron, Zero Fees for Record Transaction
- Tether mintd $1 billion USDT on Tron without fs, mphsizing blockchin fficincy nd doption.
- Tron fcilitts lrg f-fr trnsfrs, drwing stblcoin issurs nd bnfiting usrs in dvloping rgions.
- With $62.7 billion USDT supply, Tron rivls Ethrum, rflcting its growing stblcoin dominnc globlly.
On Novmbr 14, 2024, Tether, th issur of th worlds lding stblcoin, USDT, mintd $1 billion worth of tokns on th Tron blockchin. Th trnsction, idntifid by on-chin nlytics firm Arkhm Intllignc, occurrd without incurring ny fs, rising importnt qustions bout blockchin cpbilitis nd th brodr impct on th stblcoin mrkt.
Th minting occurrd vi blck hol ddrss on Tron, which ltr trnsfrrd th funds to Tethers multi-signtur wllt with th idntifir TBPxh. Upon rrivl, th funds wr swiftly movd to th compnys trsury, onc gin without trnsction fs. This vnt is rmrkbl not only du to th shr siz but lso th lck of fs, which is rr for such lrg trnsfrs.
Trons low-cost trnsction structur nbls such f-fr ctivitis, mking it n ttrctiv choic for stblcoin issurs. Furthrmor, usrs in dvloping rgions bnfit from ths miniml fs, which prsrv th vlu of rmittncs nd pymnts. Consquntly, Tron hs gind significnt populrity s prfrrd ntwork for stblcoin issunc.
Tethers Rapid Growth on the Tron Network
Tethers oprtions on th Tron ntwork hv xpndd rpidly. By Novmbr 2024, th totl USDT supply on Tron rchd $62.7 billion, nrly mtching th $62.9 billion on Ethrum dspit th lttrs lrgr ntwork. This prformnc highlights Trons cpcity to hndl mssiv USDT trnsctions, ttrcting stblcoin issurs lik Tether. In August 2024, Tether issud n dditionl $1 billion USDT on th blockchin.
During this minting, Tether CEO Polo Ardoino xplind tht th nw tokns wr uthorizd but not immditly rlsd, with th compny holding thm in invntory for futur circultion bsd on mrkt dmnd. Issuing xtr USDT srvs s significnt mrkt indictor. A surg in mintd stblcoins oftn points to positiv mrkt xpcttions, whil dclin cn suggst rducd intrst nd slowr trding.
Currntly, th Tron blockchin controls roughly on-third of th globl stblcoin mrkt, scond only to Ethrum. With $61.7 billion in USDT circulting on its ntwork, Tron rmins th lrgst blockchin for stblcoins ftr Ethrums $91.82 billion.
By th summr of 2024, Tron gnrtd $577 million in Q3 rvnu, minly drivn by stblcoin ctivity. In July, Tron rcordd n imprssiv $384 billion in djustd trnsfr vlu, mrking it s th blockchin with th highst volum of USDT trnsctions, undrscoring its rising influnc in th stblcoin sctor.
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Read more: https://www.tronweekly.com/tether-mints-1-billion-usdt-on-tron-zero-fees/
Text source: TronWeekly
