Tether has added another $1 billion to its supply of $USDT, bringing its total November minting to an impressive $13 billion.
This growth further solidifies Tether’s dominance in the stablecoin market and highlights its pivotal role in the broader cryptocurrency ecosystem.
As of now, Tether’s total supply stands at a record $130.024 billion. The lion’s share of this supply is distributed across two major networks—Ethereum and Tron—holding $66.467 billion and $60.818 billion, respectively. Combined, these two blockchains account for over 97% of Tether’s circulating supply.
Meanwhile, Tether has also expanded its presence into smaller but promising networks like Avalanche and TON, which hold $1.274 billion and $1.220 billion in $USDT, respectively. This diversification underscores Tether’s strategy to support newer blockchains and cater to a broader user base.
Tether Grows, Bitcoin Surges
In the midst of Tether’s growth, Bitcoin’s price has surged past $99,600, coming tantalizingly close to the psychological $100,000 milestone, falling short by just 0.4%. Market activity has intensified, with $1.38 billion worth of $USDT flowing from Tether to cryptocurrency exchanges in the past 15 hours alone.
https://twitter.com/lookonchain/status/1860171216830779783?t=IegSqix8RvKXyt0ynEzUmQ&s=19
The rapid minting of $USDT and its deployment on exchanges indicate a surge in trading activity and growing liquidity across the market. As Tether continues to dominate the stablecoin space and Bitcoin edges closer to breaking $100,000, all eyes remain on the cryptocurrency market for the next big move.
Tether’s aggressive supply growth and Bitcoin’s near-record highs are signaling renewed excitement and momentum in the crypto space.
Disclosure: This is not trading or investment advice. Always do your research before buying any cryptocurrency or investing in any services.
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