On November 11, Tether CEO Paolo Ardoino announced that 2 billion USDT had been created on the Ethereum network to replenish Tether’s inventory. This amount is ready to be issued but has not yet been put into circulation. The purpose of these transfers was to optimize liquidity and meet increased demand on the Ethereum network.
Tether is the largest source of liquidity in both centralized and decentralized markets, with a total supply exceeding $160 billion. USDT remains popular as a stablecoin against inflation and economic uncertainty, despite facing competition from USDC issued by Circle. Tether is preparing for future market challenges by consolidating towards the Ethereum network and responding to changing trends in the crypto market.
