Stablecoin issuer Tether recently minted an additional $1 billion USDt tokens on the Tron network, causing the authorized USDT supply on Tron to surpass that of Ethereum. Data from May 15 indicated that Tether’s treasury minted $1 billion worth of USDt on the Tron network. As per Tether’s stablecoin transparency page, Tron now boasts an authorized USDT supply of $73.7 billion, compared to Ethereum’s $74.5 billion. When factoring in the newly minted tokens, Tron’s supply surpasses Ethereum’s. In terms of circulating supply, Tron leads with $73.6 billion USDT, while Ethereum has $71.8 billion. Tether CEO Paolo Ardoino mentioned that blockchain-based USDT mints help replenish the company’s token inventory for issuance requests and chain swaps. This inventory management ensures smooth liquidity for the firm. Tron and Ethereum have been vying for USDT supply dominance, with Tron leading circulation until a significant mint on Ethereum in 2025. However, Tron quickly caught up, surpassing Ethereum once again with the latest mint. Solana and Avalanche hold the third and fourth-largest USDT supplies, respectively. Tether’s total circulation stands at a record high of $150 billion, commanding 61% of all USD stablecoins in the market. Circle, its closest competitor, holds a market share of 24.6% with $60.4 billion in stablecoins. The data from CoinGecko illustrates the stablecoin market landscape and the dominance of Tether in the space.