Tether, the issuer of the world’s largest stablecoin USDT, has minted $2 billion worth of the cryptocurrency within a few hours, with each minting amounting to $1 billion. The minting took place on the Tron network, pushing the total circulation of USDT to over $151 billion and bringing Tether’s total issuance for 2025 to $15 billion.

The first billion USDT, equivalent to $1 billion USD, was minted at the Tether Treasury, followed by another billion shortly after, totaling $2 billion in new USDT. This significant increase in supply occurred on the Tron blockchain, which now hosts more USDT than Ethereum, with a supply of over $73 billion compared to Ethereum’s $71.9 billion. Tron leads with over $73 billion in USDT supply, while Circle’s USDC trails at $60.7 billion.

The stablecoin market has seen substantial growth, with total stablecoins in circulation nearly doubling from $130 billion in May 2023 to $240 billion currently. USDT now makes up 4.47% of the total crypto market. Tron’s rise in USDT supply marks a historic milestone, surpassing Ethereum for the first time and reaching an all-time high for USDT on the Tron network.

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