24/7 Cryptocurrency News

Why Tether (USDT) Moves $1 Billion in Just 24 Hours?

Stablecoin behemoth Tether has been recorded as minting a staggering 1 billion USDT on Tron, boosting liquidity and developmental endeavours.
Published by
Why Tether (USDT) Moves $1 Billion in Just 24 Hours?

Highlights

  • Tether has minted 1 billion USDT on the Tron network, echoing a market buzz.
  • USDT sees growing popularity on Justin Sun's blockchain as the network offers less fees and faster transactions.
  • However, the network's native coin, TRX, witnessed a sluggish performance in the interim.

Stablecoin giant Tether has once again sent shockwaves across the crypto market by minting a staggering 1 billion USDT on the Tron network. This mover by the entity primarily aims to boost up liquidity and provide funds for future developments on one of the most renowned blockchains across the globe.

Advertisement

Tether Moves 1B USDT To Tron Network

Lookonchain’s X post on April 28 revealed that Tether minted 1 billion USDT on Tron. With this massive mint in play, the stablecoin giant marks the completion of 12 billion coins minted since January 29 to date on the same network.

As of now, the leading stablecoin’s total supply on the network has reached $71.7 billion worth of tokens. Justin Sun’s blockchain has emerged as a hotspot for USDT transactions, mainly as it offers lower transaction fees and quicker transaction times as compared to its rivals.

As a result, stablecoin giant Tether continues cementing its foothold network-wide, bringing a fresh inflow of funds. Intriguingly, historical data shows that the stablecoin giant’s minting activities have primarily followed Bitcoin price rallies.

BTC price has rallied nearly 10% in the last seven days, exchanging hands at $95K. Other major altcoins like ETH, XRP, & SOL have also gained 8%-10% in the interim. In turn, the massive minting has gained significant traction across the industry.

However, it’s also worth pointing out that some market watchers speculate the USDT minting activity to be a false alarm. Nevertheless, usual broader market sentiments remain bullish amid such massive inflows on a network.

Yet, the blockchain’s native coin, TRX price saw a slight 1% dip and exchanged hands at $0.2456. The weekly chart for crypto showcased a slight 1.5% increase, remaining undermined the broader market’s recent gains.

Even the coin’s trading volume saw a 15% decline intraday and is resting at $519.69 million. The contrary price metrics have sparked mixed sentiments despite Tether’s growing stablecoin activity on the network.

TRX’s futures OI also slipped over 3% today, reaching $231.75 million. Besides, the derivatives market volume also plunged 14% to $235.5 million, igniting market concerns despite a broader bullish landscape.

Advertisement

Share
Coingapestaff

CoinGape comprises an experienced team of native content writers and editors working round the clock to cover news globally and present news as a fact rather than an opinion. CoinGape writers and reporters contributed to this article.

Published by
Why trust CoinGape: CoinGape has covered the cryptocurrency industry since 2017, aiming to provide informative insights to our readers. Our journalists and analysts bring years of experience in market analysis and blockchain technology to ensure factual accuracy and balanced reporting. By following our Editorial Policy, our writers verify every source, fact-check each story, rely on reputable sources, and attribute quotes and media correctly. We also follow a rigorous Review Methodology when evaluating exchanges and tools. From emerging blockchain projects and coin launches to industry events and technical developments, we cover all facets of the digital asset space with unwavering commitment to timely, relevant information.
Investment disclaimer: The content reflects the author’s personal views and current market conditions. Please conduct your own research before investing in cryptocurrencies, as neither the author nor the publication is responsible for any financial losses.
Ad Disclosure: This site may feature sponsored content and affiliate links. All advertisements are clearly labeled, and ad partners have no influence over our editorial content.

Recent Posts

  • 24/7 Cryptocurrency News

Bitcoin ETFs Record $2.2B Weekly Inflows as BTC Price Surges Past $120K

Bitcoin ETF products recorded more than $2.2 billion in weekly inflows, building on the momentum…

October 3, 2025
  • 24/7 Cryptocurrency News

Nomura Eyes to Ripple Dominance in Crypto Trading in Japan as Demand Rises

Nomura Holdings, Japan's largest brokerage and investment banking group, eyes to ripple its dominance to…

October 3, 2025
  • 24/7 Cryptocurrency News

Sharps Technology Plans $100M Buyback to Boost Solana Treasury as SSK ETF Hits Record $382M AUM

Sharps Technology has announced a $100 million stock buyback plan, suggesting further investment plans in…

October 3, 2025
  • Bitcoin News

Will Bitcoin Reverse to $115K Max Pain Price amid Crypto Options Expiry Today?

Bitcoin surges above $120K following massive capital inflows into the crypto market in response to…

October 3, 2025
  • 24/7 Cryptocurrency News

Cardano Gets 100 Million User Exposure With Brave Integration, Whales Scoop 70M ADA

Cardano announced its integration with self-custody crypto wallet Brave, which gives native cryptocurrency ADA exposure…

October 3, 2025
  • 24/7 Cryptocurrency News

Japanese Gaming Firm Gumi to Boost Treasury With BTC, XRP After $38M Raise

Japan’s gaming and blockchain leader, Gumi Inc., has revealed plans to strengthen its balance sheet…

October 3, 2025