Tether, the issuer of the USDT stablecoin, has authorized the release of 2 billion coins on the TRON and Ethereum networks.
March 3, 2024 in Whale Alert reportedthat the company has replenished reserves by 1 billion USDT in the Ethereum network. Already on March 4, information appeared about the release of 1 billion coins in the TRON network.
PSA: 1B USDt inventory replenish on Tron Network. Note this is an authorized but not issued transaction, meaning that this amount will be used as inventory for next period issuance requests and chain swaps.
— Paolo Ardoino 🍐 (@paoloardoino) March 4, 2024
The company's CTO Paolo Ardoino noted on his X (formerly Twitter) that the volume of stablecoins based on TRON and Ethereum has been authorized but not released. According to him, this means that it will be used for further emission or swaps between blockchains.
At the time of writing, USDT's capitalization is $99.5 billion.
According to DeFiLlamaUSDT market dominance is 70.44%.
Source: Cryptocurrency
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