USDT minted today
USDTUSDT created by Issue events since the start of the current UTC day, across covered chains.
Dashboard · VantagePlanned
USDT and USDC Mint and Burn Tracker
How much USDT and USDC was minted or burned today, on which chain and in which transactions?
Every USDT and USDC mint and burn as it lands, by chain and by transaction, with daily net issuance for both coins.
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Blueprint
What the dashboard will show.
The dashboard as it will open in Vantage. Each figure is named here and arrives with its receipt; until its data is published, its place stays empty.
Today
The latest mints and burns of USDT and USDC, event by event.
USDT burned today
USDTUSDT destroyed by Redeem events since the start of the current UTC day.
USDC minted today
USDCUSDC created by Mint events today, leaving out mints that complete a cross-chain transfer.
USDC burned today
USDCUSDC destroyed by Burn events today, leaving out burns that start a cross-chain transfer.
Latest mints and burns
Every mint, burn and treasury issue of the last day with its time, chain, coin, amount, address and transaction, newest first.
History
Net issuance by day, coin and chain.
USDT net issuance, 30 days
USDTUSDT minted minus burned over the last thirty days, across covered chains.
USDC net issuance, 30 days
USDCUSDC minted minus burned over the last thirty days, with cross-chain moves left out.
Issued from the Tether treasury
USDTUSDT sent each day from Tether's treasury addresses to other addresses: the moment minted tokens enter circulation.
Net issuance by day
USDDaily mints minus burns of each coin over the last ninety days, positive above the line and negative below.
Net issuance by chain, 30 days
USDMints minus burns of each coin on each chain over thirty days, so a chain's growth can be traced to issuance there.
- Coin
- USDT, USDC or both
- Chain
- Every covered chain
About
What it answers, and for whom.
Stablecoin supply changes only when an issuer mints or burns tokens. This dashboard lists every USDT and USDC mint and burn on the covered chains, each with its transaction, its chain and the address that performed it. It adds them up into daily net issuance for both coins.
A mint is not always new money arriving. Tether usually mints into its own treasury and issues to customers later, so a large mint can sit unissued for a while; Circle mints when an approved customer deposits dollars and burns when one redeems. The dashboard tracks the treasury's outgoing transfers apart from the mints themselves, so both moments can be read.
Use the today page for the latest events and the history page to see whether issuance or redemptions have been winning on each chain. Each event links to its transaction and block.
Method
How it will be measured.
Every figure will be read at a block, kept with its source and its exact read, and open a receipt anyone can re-check.
How receipts work →- USDT mints and burns are the TetherToken Issue and Redeem events on each chain where Tether issues natively; USDC's are the FiatToken Mint and Burn events, with the minter address each names.
- Transfers out of Tether's treasury addresses are tracked separately, so a mint into the treasury and the later issue to customers each appear as their own event.
- USDC moved between chains through Circle's cross-chain transfer protocol is burned on one chain and minted on another; those pairs are matched and shown as moves, not as new issuance or redemptions.
- Daily net issuance is mints minus burns per coin, chain and UTC day; every event links to its transaction hash and block.
The data it needs
Read from chain state and history
- stablecoin_flows_dailyTo buildStablecoin mints, burns and transfersStablecoin mints, burns, transfer volume and active addresses per stablecoin and chain per day.
- stablecoinsPublishedStablecoin registryEvery tracked stablecoin contract: issuer, peg, chain, decimals and whether it is native or bridged.
- address_labelsTo buildAddress labelsLabels for known addresses: exchanges, bridges, protocols, funds, treasuries, sanctioned addresses and known attackers.
- whale_transfersTo buildLarge transfersTransfers above a size threshold per token and chain, with sender and receiver labels (exchange, fund, bridge, unknown).
- Issue and Redeem events of TetherToken on Ethereum and of the USDT TRC-20 contract on Tron
- Mint, Burn and MinterConfigured events of USDC FiatToken contracts on each covered chain
- Transfers out of Tether's treasury addresses, to separate issue into circulation from mints into inventory
- DepositForBurn and MintAndWithdraw events of Circle's cross-chain transfer protocol, to match cross-chain moves
Questions
Questions people ask.
What does it mean when Tether mints USDT?
Tether creates new USDT through its contract's issue function, usually into its own treasury address. The tokens count as authorized but not issued until Tether sends them to a customer who has paid for them, which is when they enter circulation.
Does a large mint mean new money is coming into crypto?
Not by itself. A mint into an issuer's treasury can wait there for weeks, and a mint on one chain can match a burn on another when tokens move across chains. Net issuance into circulation, after those cases are separated, is the better measure.
How does USDC minting work?
Circle mints USDC when an approved customer deposits dollars and burns it when a customer redeems. Each mint and burn is an event on the USDC contract that names the minter, so issuance can be read chain by chain.
Why are some USDC burns not redemptions?
Some burns move tokens rather than retire them: Circle's cross-chain transfer protocol burns USDC on the source chain and mints the same amount on the destination. Matched pairs are shown as cross-chain moves.
Where can I see Tether treasury transactions?
The today page lists every mint, burn and treasury transfer of the latest day with its transaction hash, so each one can be opened on its chain. Each receipt names the treasury address involved and the public source for it.
- Mint
- Creating new tokens. For a fiat-backed stablecoin it normally means the issuer has received, or set aside, the dollars that back them.
- Burn
- Destroying tokens, usually when an issuer redeems them for dollars, which lowers supply.
- Authorized but not issued
- Tokens an issuer has minted into its own treasury as inventory but not yet sold to anyone, so they are not in circulation.
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