Tether's USDT Issuance on TON Blockchain Surpasses $1.03B, Achieves 75% Market Share

Sep 16, 2024, 02:33 PM

Tether's USDT stablecoin has seen significant growth, with the authorized issuance on the TON blockchain surpassing $1 billion, currently at $1,030,000,002. Of this amount, $309.3 million remains authorized but unissued, while the net circulation is approximately $720.7 million. Over the past 30 days, $3.65 billion in USDT has flowed into the market, marking a rapid rise not seen since Bitcoin's previous all-time highs. Tether's overall market share has surged to 75%, up from 55% two years ago, and the company has generated $400 million in revenue over the past 30 days, following a record $4.5 billion profit in Q1 2024. The total supply of USDT on Ethereum has also increased, reaching $118 billion. Additionally, the fiat-pegged crypto market has expanded by $1.39 billion in the past week, led by USDT and USDC.