Tether’s Market Supply Rises $4B in 1 Month
As of the beginning of 2023, the market capitalization of the leading stablecoin Tether (USDT) has increased by 22%, with the supply of the digital currency increasing by over $600 million in the first half of October.
In the past 30 days alone, Tether has issued $4 billion worth of USDT. WhaleAlert platform analysts discovered that on November 10, Tether issued another $1 billion worth of USDT on the Tron blockchain, following a previous issuance of 1 billion USDT on Ethereum the day before.
This follows previous issuances of $1 billion on October 19 and November 3 on the Tron network.
Tether CEO Paolo Ardoino stated that the additional issuance was necessary to maintain market liquidity amidst increasing investor interest in digital assets.
According to WhaleAlert, the total issuance of USDT in 2023 has reached 22.75 billion tokens, with 13 billion tokens placed on Tron and 9.75 billion issued on Ethereum.
The researchers also noted that Tether issued $9 billion in stablecoins in March and another 3.75 billion USDT in June-July.
