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Since the introduction of $USDTon the $TONblockchain, the supply of this stablecoin has grown by over 70 million within just two weeks, totaling 130 million. While $USDToperates across multiple blockchains, its presence on $TONhas positioned it as the eighth largest in terms of circulating supply.

$TONBlockchain Sees 70 Million Increase in Tether Token Supply

Since its debut on the $TONnetwork two weeks ago, the tether ($USDT) supply issued on $TONhas increased to 130 million. Initially announced at the Token2049 event in Dubai, it was projected that 60 million tethers would be issued at the start. The volume of tethers on $TONhas subsequently expanded by 70 million tokens, positioning it as the eighth-largest blockchain by $USDTissuance.

Current figures indicate that 34,438 owners possess $USDTon the $TONnetwork. Of these, the Ston.fi decentralized exchange (dex) holds the most, with 20.12 million, or 15.73% of the total supply. Uquid ranks as the second and fourth largest holder with 11.92% and 9.52% respectively, followed by Okx at 11.25%, and Bitfinex holding 7.65%, as per tonviewer.com metrics.

This boost in supply follows the launch of an earn campaign by the $TONwallet, associated with Telegram, which said it allocated $30 million to $USDTholders. According to the program summary, depositors of 3,000 tethers can receive a 50% annual percentage yield (APY) for the initial two weeks and 25% APY for the subsequent two weeks, paid in toncoin ($TON).

As of now, the total circulation of $USDTstands at 110.60 billion, rendering the $TONissuance minor in comparison to networks like Tron and Ethereum. It only equates to 0.118% of the total tether supply in existence. However, its growth has been swift, surpassing networks such as NEAR, EOS, Celo, Liquid, Algorand, and Polkadot in the past fortnight.

What do you think about the growth of tethers on the $TONnetwork? Share your thoughts and opinions about this subject in the comments section below.

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