Ethereum surpasses Tron in on-Chain USDT holdings

Ether chain has succeeded in reclaiming its portion in terms of total on-chain USDT, as per DefiLlama there is $57.99 billion of USDT of the Tron network, and on the other hand, the total value of USDT on the Ethereum network is $60.32 billion. 

The number of USDTs has surged around 5.78 percent in the past seven days and 28.22 percent in the monthly time. It is worth noting that the total supply of Tether fell nearly 2.64 percent in the past 30 days on the Tron chain.

As per the available information, the supply of USDT on the Aptos chain grew more than 58 percent in the past seven days reaching 109.22 million, Polkadot’s USDT supply saw a staggering surge of 35 percent in the weekly time frame reaching 38 million and the supply of Tether on BSC chain has reached 4.883 billion growing 14 percent in the past 30 days.

USDT’s total market capitalization is $133.231b, it is worth noting that it has recently minted 3 billion USDT which was transferred to the treasury of the company.

In the past few quarters, Tether has significantly expanded its operations across dozens of countries, including a recent collaboration with the UAE government to introduce a dirham-backed stablecoin, pegged solely to the value of the United Arab Emirates’ national currency.

Tether has mirrored severe allegations over time including that of Despite facing serious allegations of illicit trading, it has maintained its credibility among investors and holders, consistently disproving doubts about it.

During the initial phases of the Israel-Hamas war, it was reported that a substantial amount of funds in USDT (Tether) was transferred across borders, allegedly to finance war efforts and related operations.

Since the beginning of 2024 till date, Tether has minted billions of USDT coins, and the back-to-back minting has speculated over the reserve of Tether. When writing, the recorded trading volume of USDT was $195.66 billion which has seen a whopping surge of 21 percent in the past 24 hours. 

BTC/USDT and ETH/USDT are one of the most traded pairs of USDT, Binance followed by DAI/USDT on the other hand Curve ( Ethereum) and USD/USDT are most traded on Bybit. Earlier on November 26, 2024, it was reported that Tether had injected around 313 million USDT into the vast market, on the same day its treasury received 3 billion USDT that were minted. 

However, the market capitalization of Tether is the third largest after Bitcoin and Ethereum. In terms of circulating supply, BitTorrent stands at the top of the list followed by Shiba Inu, Pepe, Mog, and Bonk. 

Tether remains the most traded cryptocurrencies intraday followed by Bitcoin, Ethereum, USDC, First Digital USD, XRP, Dogecoin, Solana, Stellar, and Pepe. 

When writing the cryptocurrency market capitalization was at $3.21 trillion declining 5.23 percent and the entire volume was $244.57 billion growing more than 21 percent intraday, and above 20, 50, 100, and 200 days exponential moving average. 

At the same time, Bitcoin was trading at $94,532 falling nearly 5.21 percent in the past 24 hours, and it dominated nearly 58 percent in the same time frame.