Tether Mints $3 Billion in USDT as Ethereum and TRON Activity Heats Up
Tether has minted 3 billion USDT across two major blockchains—2 billion on Ethereum and 1 billion on TRON—in response to rising demand for trading and liquidity. The issuance follows a notable increase in stablecoin activity, coinciding with heightened market consolidation.
Spot On Chain reports that the new USDT was released over the past three days, with TRON continuing to dominate as the chain with the largest USDT supply, now totaling $71.71 billion. This surge in minting comes amid growing concerns over illegal trading activities on both Ethereum and TRON.
According to Bitrace’s 2024 crypto crime report, these two networks remain the most active for illicit transactions. High-risk addresses involving ERC20 and TRC20 stablecoins (USDT and USDC) reportedly received around $649 billion this year—up slightly from 2023 and significantly more than in previous years. Bitrace identified these tokens as central to most illicit activity in the crypto space.
Meanwhile, Ethereum’s price is consolidating around $1,800. Bulls are testing resistance near the 50-day Exponential Moving Average (EMA) at $1,860. A breakout above this level could signal a bullish reversal from the falling channel pattern on the daily chart. However, if momentum weakens, ETH could revisit support near $1,500 or even $1,400 during increased volatility.
On the TRON side, technical indicators raise caution. A Relative Strength Index (RSI) drop below 50 suggests potential price weakness ahead.