Tether added 1 billion USDT (USDT) to its Ethereum inventory on Monday, just as Bitcoin (BTC) pushed above $76,000.
Ethereum Mint Details
Arkham Intelligence flagged the transaction shortly after the mint hit the chain. The tokens sit in Tether's treasury as authorized but not issued, according to on-chain records.
Total USDT supply now sits near $186 billion.
Circle's USDC, the nearest competitor, trails close to $75 billion.
That gives Tether roughly 58% of the broader stablecoin market.
The issuance lands on Ethereum (ETH), where USDT supply had been running roughly even with Tron in recent weeks. USDT's 24-hour trading volume of $484 billion dwarfs USDC's $319 billion.
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Analyst Views
Onchain Lens analysts described the mint as a precursor to heightened on-chain activity, with tokens expected to move toward exchanges and DeFi once deployed. Historically, mints of this scale precede exchange inflows.
Paolo Ardoino, Tether's chief executive, has previously called such moves inventory replenishment rather than fresh capital entering the market.
Tether has been active throughout April.
The firm minted roughly $17 billion in new USDT since late 2025, committed $127 million to Drift Protocol after its $285 million exploit, and froze $3.29 million linked to the Rhea Finance incident.
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