Tether has minted $3 billion in USDT within 24 hours, according to on-chain tracker Lookonchain. This massive supply injection, including a fresh $1 billion mint, was confirmed by CEO Paolo Ardoino.
In his recent X post, Ardoino explained that the issuance serves as an “inventory replenish” for Ethereum-based USDT, intended for future use—not immediate circulation.
Additionally, of the newly minted amount, 1 billion USDT went straight to Binance. Both institutional and individual traders may have been drawn to the spike, which was most likely brought on by Bitcoin’s record-breaking high of over $120,000.
In addition, the minting pushed Tether’s market cap above $160 billion for the first time. Ardoino attributed this to the demand USDT enjoys worldwide, mostly in emerging economies. Tether currently holds $81 billion on Tron, $74 billion on Ethereum, and increasing amounts on chains like Solana and TON.
Tether has dispersed smaller amounts over more recent blockchains. These consist of $480 million for Avalanche, $530 million for TON, and $2 billion for Solana. This multi-chain strategy facilitates quick access to liquidity and smooth cross-platform swaps.
Notably, large USDT deposits on exchanges often spark trading activity. This can result in short-term volatility or even price breakouts. In the past, these kinds of inflows have often been a precursor to market rallies or substantial margin trades.
Despite the progress, some worries still hang. Critics have voiced concerns about transparency, particularly regarding reserves and audit practices. Nevertheless, Ardoino is optimistic, even embracing the idea of regulation under the proposed U.S. crypto laws.