Decoding the Dominance: A Deep Dive into Ethereum and Tron’s Tether Wallets

Decoding the Dominance: A Deep Dive into Ethereum and Tron's Tether Wallets

Although bitcoin and ethereum dominate the crypto realm in terms of market capitalization, tether (USDT) stands out as the third-largest digital currency by market valuation. Notably, while USDT operates on multiple blockchains, Ethereum and Tron predominantly host its supply. This piece delves deeply into the top ten tether wallets on Ethereum and the most significant tether vaults on Tron.

Behind the Billions: A Spotlight on Ethereum and Tron’s Leading Tether Wallets

USDT operates on various blockchain platforms like Solana, Avalanche, Tezos, and Polkadot. However, the lion’s share of this digital currency is produced on Ethereum and Tron. As of September 4, 2023, archived stats show Tron’s blockchain circulates roughly 42.82 billion tether, while Ethereum boasts about 39.02 billion.

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This indicates that of the total 82.90 billion USDT, 81.84 billion, or over 98%, resides on ETH and TRX. Presently, the ERC20 version of USDT is held by 4,555,831 unique addresses. The ten leading wallets containing ERC20-based USDT hold a significant 21.38% of the 39.02 billion tether on Ethereum, translating to roughly 8.34 billion USDT.

The wallet labeled “0xF97,” a Binance cold storage address, is at the helm with 2.959 billion tether. Following closely is “0x47a,” another Binance-owned wallet, housing around 1.220 billion USDT. The third in line, “0xA7A,” is Bybit’s property and boasts just over 1 billion tether. The uniquely named “Arbitrum One: L1 Arb – Custom Gateway” address ranks fourth, holding 708.36 million tokens.

The fifth-ranking USDT wallet on Ethereum, “0xD62,” belongs to Kucoin, holding 552.4 million tether. Next, the Polygon Bridge, with the address “0x40e,” stands as the sixth largest, containing 438.03 million USDT. The Tether treasury claims the seventh spot with its “0x575” address, holding 422.61 million USDT.

Hot on its heels is the Mexc exchange’s wallet, “0x3CC,” overseeing 406.12 million tether as of September 4, 2023. Binance’s “0x28C” wallet ranks ninth, managing 328.05 million tether, while the tenth position, “0xc54,” is held by Okx, controlling just slightly more than 300 million in that wallet. Notably, Okx also holds the 11th, 12th, 13th, 14th, 15th, and 16th largest USDT wallet positions on Ethereum.

On the Tron blockchain, the elite ten wallets encompass 37.61% of the total supply, with Binance reigning supreme by owning the top five Tron-based tether wallets. Together, these five vaults command 14.809 billion tethers. The Tether treasury wallet “TKHu” claims the sixth spot, storing 431.74 million USDT. Kraken operates the seventh largest address, “TTd9q,” overseeing 284.36 million tether.

An unknown individual or entity controls the eighth largest Tron USDT wallet, “TRJvQ,” which houses 216.44 million tethers. Similarly, the ninth wallet, “TNiq9,” with 212.92 million tether, and the tenth, “TGtgr,” holding 150.10 million USDT, are both shrouded in mystery because the two addresses are unlabeled.

Of the 42 billion tether minted on Tron, it’s distributed among 29,062,703 distinct TRX addresses. The top ten holders wield a significant 37% of the TRX-based USDT. Meanwhile, the leading 100 wallets oversee 44.81% of the stash, and the topmost 500 manage 47.57%.

What do you think about the top ten Ethereum-based tether wallets and the top ten giants holding Tron-based tethers? Share your thoughts and opinions about this subject in the comments section below.

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