The Throne network approached the recovery of Ethereum’s advantage in the Tether circulation after another great mint by the STECLECOIN Issuer in the USA.
On May 5, Tether struck another $ 1 billion Tether (USDT) in the Thron network, According to to Arkham Intelligence. According to the transparency of imprisonment, according to the throne, up to $ 71.4 billion report.
For comparison, currently 72.8 billion USD circulates on the Ethereum network, so only $ 1.4 billion per throne will be the leading network of Stablecoin Issuer in the world, as it was before in the last two years.
The throne overtook Ethereum in the Circulation of the USDT between July 2022 and November 2024, but immense mint worth $ 18 billion on Ethereum again pushed the network, according to Cryptoquant.
The third largest network for USDT is Solana, which has $ 1.9 billion circulating, and on tons, avalanches, aptos, aptos, aptos, close, Celo and Cosmos.
Tether’s total circulation is currently at a record level of USD 149.4 billion, which has increased by 8.6% since the beginning of this year. This gives the company a share in the Stablecoin market at 61%, According to To Coingecko.
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His closest competitor, Circle, has 25% in the market with almost USD 62 billion (USDC) in circulation.
Stablecoin emissions have increased over the past six months, and currently they constitute 8% of total cryptographic market capitalization.
In the report at the end of April, the Department of the Treasury of the United States predicted that the Stablecoin market could reach $ 2 trillion by 2028 if the regulatory transparency is achieved.
Stablecoin legislation approaching the next vote
It is widely believed that in the US two key legislative acts should be transferred to strengthen Stablecouins.
The leading and establishing national innovation for American Stablecouins (Genius) defines the clear definitions of “Stablecouins” and the reserves rules for Stablecoin issuers.
According to reports of the legislator in the US Senate, they will go forward with the vote on the brilliant law of Stablecoin before May 26.
Meanwhile, the Act on the transparency and responsibility of Stablecoin and responsibility for the better economy of the book (stable), which regulates the approval and supervision of “non -qualified STECLECOIN Federal Payments”, and also goes through the Congress.
Tether also plans to launch American Stablecoin this year, with time depending on the adoption of the regulations.
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