Following the launch of USDT on the TON blockchain, the supply of this stablecoin has surged by over 70 million in just two weeks, reaching a total of 130 million. While USDT is operational across various blockchains, its presence on TON now ranks it as the eighth-largest in terms of circulating supply.
The introduction of USDT on the TON network has seen a remarkable increase, with the supply rising to 130 million within a fortnight of its debut. Initially anticipated to start with 60 million tethers at the Token2049 event in Dubai, the actual issuance has exceeded expectations, expanding by 70 million tokens. This development has elevated TON to the eighth position among blockchains with USDT issuance.
Present statistics reveal that USDT on the TON network is held by 34,438 owners. This surge in supply follows the initiation of an earn campaign by the TON wallet, affiliated with Telegram, which designated $30 million to USDT holders. As per the program outline, depositors of 3,000 tethers can earn a 50% annual percentage yield (APY) for the first two weeks and 25% APY for the subsequent two weeks, paid in toncoin (TON).
Despite the rapid growth, the total circulation of USDT currently stands at 110.60 billion, making the TON issuance relatively minor compared to networks like Tron and Ethereum, accounting for only 0.118% of the total tether supply. Nevertheless, its swift expansion has propelled TON ahead of networks such as NEAR, EOS, Celo, Liquid, Algorand, and Polkadot over the past two weeks.
