{"id":12310,"date":"2024-11-16T04:42:36","date_gmt":"2024-11-16T04:42:36","guid":{"rendered":"https:\/\/www.cryptometer.io\/news\/?p=12310"},"modified":"2024-11-16T04:42:39","modified_gmt":"2024-11-16T04:42:39","slug":"tether-mints-1-billion-in-usdt-on-tron-without-paying-fees","status":"publish","type":"post","link":"https:\/\/www.cryptometer.io\/news\/tether-mints-1-billion-in-usdt-on-tron-without-paying-fees\/","title":{"rendered":"Tether Mints $1 Billion in USDt on Tron Without Paying Fees"},"content":{"rendered":"\n

Tether, a leading stablecoin issuer, has minted $1 billion in Tether-USD tokens (USDt) on the Tron network, paying zero transaction fees in the process, according to blockchain analytics firm Arkham Intelligence.<\/strong><\/p>\n\n\n\n

Zero-Fee USDt Transactions on Tron<\/h3>\n\n\n\n

On November 14, Tether transferred the newly minted USDt from a \u201cblack hole address\u201d on Tron to its multisignature wallet, identified by the prefix “TBPxh.” Shortly after, the funds were moved to Tether\u2019s treasury without incurring any fees. This seamless, cost-free process highlights the advantages of using Tron for high-volume transactions.<\/p>\n\n\n\n

Tron\u2019s low transaction fees make it a preferred choice for stablecoin operations, particularly in developing countries where high network fees can reduce the value of remittances or payments.<\/p>\n\n\n\n

USDt Supply and Tron\u2019s Role in the Stablecoin Market<\/h3>\n\n\n\n

As of now, Tether\u2019s transparency page indicates that $62.7 billion worth of USDt is authorized on the Tron network, closely rivaling Ethereum’s $62.9 billion USDt supply. Despite Ethereum\u2019s larger ecosystem, Tron has achieved near parity in USDt circulation, showcasing its growing importance in the stablecoin market.<\/p>\n\n\n\n

Tron’s appeal has driven significant revenue for the blockchain, generating $577 million in Q3 2024 alone.<\/p>\n\n\n\n

A Rising Star in Stablecoins<\/h3>\n\n\n\n

In August 2024, Tron became the second-largest blockchain ecosystem for stablecoins, securing 37.9% of the total market share compared to Ethereum\u2019s dominant 55.7%. During that period, Tether minted an additional $1 billion USDt on Tron, intended to replenish its reserves.<\/p>\n\n\n\n

Tether\u2019s CEO, Paolo Ardoino, clarified that these tokens are authorized but not immediately issued. Instead, they remain in Tether\u2019s inventory until a request for issuance is made, at which point they are distributed for trading.<\/p>\n\n\n\n

Stablecoin Supply and Market Sentiment<\/h3>\n\n\n\n

Stablecoin supply is closely watched as a key indicator of market sentiment. A rise in newly minted tokens often signals bullish market activity, as traders anticipate price movements. Conversely, a decline in stablecoin supply may reflect reduced trading interest and lower market activity.<\/p>\n\n\n\n

Tron\u2019s combination of low fees and efficient processing has cemented its status as a top choice for stablecoin issuers like Tether. As the stablecoin market evolves, Tron\u2019s role is expected to grow, particularly in regions where cost-effective transactions are critical.<\/p>\n","protected":false},"excerpt":{"rendered":"

Tether, a leading stablecoin issuer, has minted $1 billion in Tether-USD tokens (USDt) on the Tron network, paying zero transaction fees in the process, according to blockchain analytics firm Arkham Intelligence. Zero-Fee\u2026<\/p>\n","protected":false},"author":5,"featured_media":3533,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_cmn_meta_desc":"","_cmn_primary_category":0,"_cmn_noindex":"","_cmn_alt_titles":"","footnotes":""},"categories":[259,43],"tags":[],"class_list":["post-12310","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-altcoins","category-general-news"],"_links":{"self":[{"href":"https:\/\/www.cryptometer.io\/news\/wp-json\/wp\/v2\/posts\/12310","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.cryptometer.io\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.cryptometer.io\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.cryptometer.io\/news\/wp-json\/wp\/v2\/users\/5"}],"replies":[{"embeddable":true,"href":"https:\/\/www.cryptometer.io\/news\/wp-json\/wp\/v2\/comments?post=12310"}],"version-history":[{"count":2,"href":"https:\/\/www.cryptometer.io\/news\/wp-json\/wp\/v2\/posts\/12310\/revisions"}],"predecessor-version":[{"id":12320,"href":"https:\/\/www.cryptometer.io\/news\/wp-json\/wp\/v2\/posts\/12310\/revisions\/12320"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.cryptometer.io\/news\/wp-json\/wp\/v2\/media\/3533"}],"wp:attachment":[{"href":"https:\/\/www.cryptometer.io\/news\/wp-json\/wp\/v2\/media?parent=12310"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.cryptometer.io\/news\/wp-json\/wp\/v2\/categories?post=12310"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.cryptometer.io\/news\/wp-json\/wp\/v2\/tags?post=12310"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}