CryptoOnchain2025-09-24

New record: ERC‑20 USDT supply hits $93.4B all‑time high

The total supply of Tether on the Ethereum (ERC20) network recently reached an all-time high of $93.4 billion. This sharp increase indicates a significant inflow of capital into the crypto ecosystem and newly minted assets, which has notably accelerated since mid‑July. The growth reflects fresh liquidity entering the market and rising demand for stablecoins across various DeFi protocols and exchanges. Supply increases of this scale are often described as “dry powder” — capital waiting on the sidelines that can set the stage for major market moves.