Tether’s USDT supply is rapidly growing on the Telegram-linked The Open Network (TON) blockchain. In less than two months, Tether issued $580 million worth of USDT tokens on TON, with a net circulation of $519 million as of press time.
This growth is attributed to the ease of transactions on the TON network, likened to sending a text message. Market analysts also point to rising investor interest in TON, which recently surpassed Ethereum in daily active addresses.
Additionally, Binance’s recent support for TON’s USDT has expanded access to the stablecoin. However, Tether is under scrutiny from Consumers Research, accusing it of fraud and ties to terrorism and China.
The rapid adoption of USDT on TON highlights the blockchain’s potential for mainstream financial transactions.
