Tether issues $1 billion USDT stablecoin on Tron and expands to DeFi protocol

In the cryptocurrency market, the growth of the market value of stablecoins is similar to the increase in the money supply in the traditional financial system.

Tether issues another 1 billion USDT

According to @whale_alert monitoring data, stablecoin issuer Tether issued an additional 1 billion USDT on the TRON network today. The chief technology officer also replied on It is important to note that this is an authorized but not yet issued transaction.

It is worth noting that not long ago, on December 25 last year, Tether just issued an additional 1 billion USDT on the Ethereum network. On the other hand, according to DeFiliama data, the overall stablecoin market value currently falls at US$132 billion. Compared with the report 2 weeks ago, the overall stablecoin market value increased by US$7 billion, of which USDT accounted for 70.28%, reaching US$92.9 billion, a record All time high.

Increase in the market value of stablecoins|

Spillover to the total holdings on DeFi protocols and public chains

The past locomotive in the Defi field Stablecoins usually take the lead. Stablecoins flow into the market, and the amount of locked positions on DeFi protocols and public chains increases accordingly.

According to data from DefiLlama, in mid-October this year, the amount of locked positions in DeFi protocols on various chains was less than 36 billion U.S. dollars, a decrease compared to the high of 178 billion U.S. dollars in November 2021. More than nearly 80%. However, with the inflow of a large number of stablecoins, the locked-up volume of DeFi in various chains has so far rebounded to US$53.7 billion, an increase of 50%.

DeFi lock-up volume has increased significantly

When a large amount of funds enter the market, it can be seen that the prices of many currencies are also slowly fermenting. As the underlying modular blockchain, Celestia (TIA) has risen by 33% in the past seven days and 21.6% in the past 24 hours; the token 1INCH of the decentralized exchange 1inch has also risen by 12.7% in the past 24 hours.

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