Theo Tether currently has over 134 billion USDT tokens in circulation across multiple blockchain protocols as of November 2024.
The Tether stablecoin issuer has minted an additional 3 billion USDT tokens on November 23 on the Ethereum and TRON networks, amid surging trading volumes in the cryptocurrency market — particularly Bitcoin as it nears the $100,000 level.
Data from Arkham Intelligence shows that 2 billion USDT have been issued on the Ethereum blockchain, and an additional 1 billion USDT has been issued on the TRON network through two consecutive transactions.
According to Lookonchain, Tether has minted around 13 billion USDT since November 8, 2024. On November 24, Tether CEO Paolo Ardoino stated: "In 2025, Tether will need to achieve superhuman productivity to realize our grand vision."
Stablecoin trading volume is often used by traders and investors as an indicator to measure the level of interest in the cryptocurrency market. Many traders view large volumes of new stablecoin issuance as a positive sign for price appreciation, while low volumes suggest the opposite.
After Donald Trump's election on November 5, Bitcoin price surged from around $69,000 to an ATH above $99,000 within two weeks of the U.S. election.
Investors and traders use stablecoins like Tether's USDT as a bridge to fiat to buy cryptocurrencies or cash out positions, so increased trading activity will drive demand for stablecoins.
According to prominent Bitcoin developer and Cypherpunk Adam Back, Bitcoin could reach $1 million if the incoming Trump administration sets up a strategic Bitcoin reserve — triggering a digital arms race between nations to own Bitcoin and get ahead of other countries.
On November 19, President-elect Trump selected Howard Lutnick, CEO of Cantor Fitzgerald and a crypto advocate, to serve as Commerce Secretary. Cantor Fitzgerald is the custodian of Tether's U.S. Treasury bond reserves, which are used to back the USDT stablecoin.
Five days after Lutnick's cabinet appointment, Cantor Fitzgerald announced that they had acquired a 5% stake in Tether, worth over $600 million.
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The article Tether mints 3 billion USDT stablecoin first appeared on CoinMoi.
