Tether’s USDT Balance on TRON Network Reaches Near All-Time High Following $2 Billion in Mints

Tether’s USDT supply on the Tron network has surged dramatically, approaching its highest levels on record, following two substantial $1 billion mints in the past week. This rise has pushed the circulating USDT supply on Tron toward a peak, signaling significant demand for the stablecoin on the blockchain.

CryptoQuant analyst JA Maartun highlighted this trend on February 7, noting that the sharp increase in USDT on Tron may be indicative of heightened market activity or increased liquidity needs. “In the past week, two $1 billion mints were recorded, pushing the total supply to $61.7 billion,” Maartun said.

Large mints of this magnitude often point to either intensified market trading or institutional movements, both of which are contributing to the growing USDT supply on Tron. Historically, such minting events often align with spikes in Bitcoin and altcoin prices, suggesting that the market is increasingly relying on stablecoin-driven liquidity.

Tether has routinely minted over $1 billion in USDT on Tron, with the most recent chain swap in January 2025—though it didn’t change the overall USDT supply—highlighting the expanding demand for Tron-based stablecoins.

Additionally, Tron has overtaken Ethereum to become the second-largest network by fees, with a significant year-to-date performance. As of now, Tether has earned over $470 million in fees, surpassing Tron’s $330 million and Jito’s $324 million. Other networks like Solana and Circle also rank ahead of Ethereum, which has accumulated $172 million in fees this year.