Tether’s USDT supply is growing rapidly on the Telegram-linked The Open Network (TON) blockchain, with $580 million issued and $519 million in circulation as of now. This growth has occurred in less than two months since USDT was launched on the network.
TON attributed this surge to the ease of transactions, likening it to sending a text message. Market analysts also noted increased investor interest, with TON surpassing Ethereum in daily active addresses.
A key milestone was Binance enabling support for TON’s USDT, expanding access significantly. Despite this growth, Tether faces scrutiny from a US consumer advocacy group alleging fraud and illicit activities.
Tether’s CEO acknowledged ongoing challenges but emphasized the company’s commitment to proving its value. This rapid adoption on TON highlights the strategic importance of user-friendly blockchain networks in the evolving crypto landscape.
