Tether has minted $2 billion USDT on Ethereum, adding to the $19 billion minted since November 6.
The recent surge in USDT issuance has fueled liquidity on exchanges, coinciding with Bitcoin's rise above $100,000.
USDT dominates trading on ETH pairs, contributing to Bitcoin liquidity and Coinbase premiums.
As the stablecoin market evolves, regional stablecoins and decentralized alternatives are gaining momentum, challenging the dominance of USD-backed tokens.