Jamal Al-Farouq While Bitcoin and Ethereum primarily lead the cryptocurrency space based on market capitalization, Tether (USDT) emerges as the third most valuable digital currency in terms of market size. Importantly, although USDT is compatible with multiple blockchain infrastructures, it is mainly distributed over the Ethereum and Tron blockchains. This article offers an in-depth analysis of the ten foremost Tether wallets on Ethereum and the most prominent Tether vaults on Tron.
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The Architecture of Billions: Profiling Ethereum and Tron’s Key Tether Wallets
Tether (USDT) is versatile enough to operate on various blockchain networks such as Solana, Avalanche, Tezos, and Polkadot. Nevertheless, the overwhelming majority of its circulation occurs on the Ethereum and Tron blockchains. Data archived as of September 4, 2023, indicates that Tron’s blockchain circulates approximately 42.82 billion Tether, while Ethereum circulates around 39.02 billion.
This means that out of a total of 82.90 billion USDT in circulation, 81.84 billion—equating to more than 98%—is domiciled on the Ethereum and Tron networks. Currently, the ERC20 version of USDT is owned by 4,555,831 distinct addresses. The top ten wallets containing ERC20 USDT account for a substantial 21.38% of the 39.02 billion Tether hosted on Ethereum, which amounts to nearly 8.34 billion USDT.
The wallet identified as “0xF97,” which is a cold storage address owned by Binance, leads the pack with 2.959 billion Tether. It is closely followed by “0x47a,” another Binance-controlled wallet, with approximately 1.220 billion USDT. The third-largest wallet, “0xA7A,” is owned by Bybit and holds slightly over 1 billion Tether. Coming in fourth is the uniquely designated “Arbitrum One: L1 Arb – Custom Gateway” address, which holds 708.36 million tokens.
The fifth-ranked Ethereum-based USDT wallet, “0xD62,” is under Kucoin’s ownership and holds 552.4 million Tether. Following that is the Polygon Bridge with the “0x40e” address, possessing 438.03 million USDT. The Tether Treasury occupies the seventh rank with the “0x575” address, controlling 422.61 million USDT.
Mexc’s wallet, labeled “0x3CC,” stands at eighth place, managing 406.12 million Tether as of the said date. Binance’s “0x28C” wallet occupies the ninth position, overseeing 328.05 million Tether. Lastly, the “0xc54” wallet owned by Okx holds slightly above 300 million Tether, capturing the tenth spot. Remarkably, Okx also possesses the 11th through 16th largest USDT wallets on Ethereum.
Tron’s Top Ten Tether Custodians
On Tron’s network, the most influential ten wallets hold 37.61% of the entire circulating supply. Binance notably dominates by possessing the top five Tron-specific Tether wallets. These five vaults collectively hold 14.809 billion Tethers. The Tether treasury, with the address “TKHu,” holds the sixth place, safeguarding 431.74 million USDT. The seventh-largest wallet, operated by Kraken and labeled “TTd9q,” oversees 284.36 million Tether.
An unidentified individual or organization owns the eighth-largest Tron-based USDT wallet, “TRJvQ,” which contains 216.44 million Tethers. The ninth and tenth wallets, “TNiq9” and “TGtgr,” respectively, each with 212.92 million and 150.10 million USDT, are also not clearly labeled and remain enigmatic.
Of the 42 billion Tether issued on Tron, it is distributed amongst 29,062,703 unique TRX addresses. The top ten holders control an impactful 37% of TRX-based USDT. In addition, the leading 100 wallets manage 44.81% of the total Tether, while the top 500 wallets oversee 47.57%.
We invite you to share your insights and perspectives on the topic of the principal Ethereum and Tron-based Tether wallets in the comments section below.
Frequently Asked Questions (FAQs) about Tether Wallets on Ethereum and Tron
What is the main focus of the article?
The main focus of the article is to provide an in-depth analysis of the principal Tether (USDT) wallets on the Ethereum and Tron blockchains. It aims to detail the concentration and distribution of USDT among the leading wallets on these platforms.
How much Tether is in circulation as of September 4, 2023, and where is it primarily hosted?
As of September 4, 2023, there is a total of 82.90 billion USDT in circulation. Of this, over 98%—equating to 81.84 billion USDT—is hosted on the Ethereum and Tron blockchains.
Which wallet holds the largest amount of Tether on the Ethereum blockchain?
The wallet labeled “0xF97,” which is a Binance cold storage address, holds the largest amount of Tether on the Ethereum blockchain with 2.959 billion USDT.
What percentage of Tether on Ethereum is held by the top ten wallets?
The top ten wallets containing ERC20-based USDT hold a significant 21.38% of the 39.02 billion Tether on the Ethereum blockchain.
Who are the key players holding Tether on the Tron blockchain?
On the Tron blockchain, the most significant holders are predominantly controlled by Binance, which owns the top five Tron-specific Tether wallets. These five vaults collectively hold 14.809 billion Tethers.
Are there any unidentified Tether wallets on Tron?
Yes, there are unidentified Tether wallets on Tron. Specifically, the eighth-largest Tron-based USDT wallet, “TRJvQ,” as well as the ninth and tenth wallets, “TNiq9” and “TGtgr,” are not clearly labeled and remain enigmatic.
How many unique addresses hold Tether on Ethereum and Tron?
On Ethereum, 4,555,831 unique addresses hold Tether. On Tron, Tether is distributed among 29,062,703 unique TRX addresses.
What is the article’s stance on the concentration of Tether in these wallets?
The article is descriptive and does not take a stance. It aims to provide factual data on the distribution and concentration of Tether in principal wallets on Ethereum and Tron for the benefit of stakeholders.
More about Tether Wallets on Ethereum and Tron
- Tether Official Website
- Ethereum Blockchain Explorer
- Tron Blockchain Explorer
- CoinMarketCap Tether Statistics
- Binance Official Website
- Bybit Official Website
- Kucoin Official Website
- Mexc Official Website
- Kraken Official Website
- Polygon Bridge Information
- Cryptocurrency Market Analysis
- USDT ERC20 Token Addresses
- USDT TRC20 Token Addresses
- Blockchain Technology Overview
10 comments
Wow, didnt know Binance held so much USDT. Kinda makes you wonder how centralized these decentralized systems really are, huh?
Never realized how much tether is actually out there. And here I thought Bitcoin and Ethereum were the big players.
Excellent breakdown of the USDT distribution. Really puts into perspective how much is actually controlled by a few key players. Great job on the analysis.
Good read but I’m a bit concerned. If Binance controls that much, what happens if they decide to move it all at once?
so the top 10 wallets hold over 20% of all tether on ETH? thats some serious concentration of wealth right there.
The part about unidentified Tron wallets is intriguing. Raises questions about transparency in the crypto world.
Comprehensive as usual! Didn’t expect any less from this site. Could use more on implications for the market tho.
Loved the article. Very detailed and informative. Exactly what I needed to understand the tether landscape.
Intrsting how the stats show Tron’s catching up to Ethereum in terms of USDT. Wonder what this means for the future of both blockchains.
Where do you even get all these stats? Must’ve taken ages to compile all this data. Kudos to the author!