Tether, one of the largest stablecoin issuers, has recently made a significant move in the cryptocurrency market. With the release of an additional 1 billion USDT on the Ethereum and TRON networks, Tether aims to solidify its market dominance and enhance its interoperability.
Whale Alert, an on-chain analytics account known for monitoring significant cryptocurrency transactions, drew attention to this latest move by Tether.
In response to Whale Alert’s tweet announcing Tether’s 1 billion USDT inventory replenishment on the Tron Network, Tether’s CTO Paulo Adoino replied in a tweet stating that the issuance was authorized but not yet issued, indicating that the tokens will serve as inventory for future issuance requests and chain swaps.
PSA: 1B USDt inventory replenish on Tron Network. Note this is a authorized but not issued transaction, meaning that this amount will be used as inventory for next period issuance requests and chain swaps.https://t.co/Y1bqxZglgR
— Paolo Ardoino