Tether issued 4 billion USDT in the past month.
14.11.2023
Tether Issued 4 Billion USDT in the Past Month.

Tether has created an additional 4 billion USDT over the last 30 days, according to information from WhaleAlert.

In the last month, the company issued new stablecoins four times:

  • October 19 — 1 billion USDT on the Tron network;
  • November 3 — 1 billion USDT on the Tron network;
  • November 9 — 1 billion USDT on the Ethereum network;
  • November 10 — 1 billion USDT on the Tron network.
  • Paolo Ardoino, who has taken the position of CEO at Tether, explained in response to WhaleAlert's message in X that the latest increase is related to the "replenishment of USDT reserves."

    This year, Tether has issued approximately 22 billion USDT, of which 13 billion (57%) were created on the Tron blockchain.

    According to CoinGecko, the market capitalization of USDT reached $86.7 billion, increasing by 3.5% over the month. This asset represents about 6% of the entire crypto market.

    USDT holds a 70% dominance among other stablecoins, while its closest competitor, USDC, has just under 20%.

    Ardoino notes that in addition to coin issuance, Tether is developing an "extremely powerful" component for its ecosystem and plans to introduce five new projects in 2024.

    In early November, Tether reported having $72.6 billion in U.S. Treasury securities and cash, accounting for 85.7% of their total reserves.

    It was also announced that Tether invested $1 billion in a Bitcoin mining project in El Salvador and directed $420 million to purchase chips from Nvidia in exchange for a 20% stake in the mining company Northern Data.

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