Tron Surpasses Ethereum in Total Circulating USDT Supply

Tron has officially overtaken Ethereum in total circulating USDT, marking a significant shift in the stablecoin landscape. On May 6, Tron’s USDT supply reached $73.8 billion, surpassing Ethereum’s $71.9 billion for the first time. This milestone highlights Tron’s growing dominance in the stablecoin market, driven by low transaction fees, fast settlement times, and a reliable network infrastructure.

Tron’s Growing USDT Supply

Since mid-2023, Tron’s growth has been consistent, making the TRC-20 network the preferred choice for large-scale Tether transactions. In the first half of 2025 alone, over $14 billion worth of new USDT was minted on the Tron network. Its appeal to decentralized finance (DeFi) users, traders, and businesses stems from its cost-effectiveness and quick block finality.

In contrast, Ethereum’s USDT growth has plateaued, partly due to high gas fees and slower transaction settlement times. Many users have shifted to Tron or Layer-2 solutions, seeking more affordable and efficient alternatives. While Ethereum was the original home of USDT, its stablecoin market share has begun to decline.

Tron’s Expanding Ecosystem

Beyond stablecoins, Tron’s ecosystem has shown remarkable growth. The network processes over 8.4 million daily transactions and recently surpassed 10 billion total transactions. In April, Tron’s decentralized exchange volume climbed 40%, increasing from $3.4 billion to $4.9 billion. Additionally, its total value locked (TVL) has exceeded $5 billion, reflecting strong user adoption across its ecosystem.

On May 1, World Liberty Financial integrated its USD1 stablecoin onto the Tron network, further boosting its utility in the financial sector. Tron also unveiled a new Gas Free feature, enabling users to pay transaction fees without holding TRX tokens. These developments position Tron as a competitive player in the cryptocurrency space.

TRX Price Performance and Future Outlook

At the time of writing, Tron’s native token, TRX, is trading at $0.2618, up over 6% in the past week. Tron founder Justin Sun has expressed optimism about TRX reaching a new all-time high this quarter, fueled by increasing network activity and its growing correlation with Bitcoin.

Reasons Behind Tron’s Success

Tron’s rise in the stablecoin market can be attributed to several factors:

  • Low Transaction Fees: Tron’s cost-efficient network attracts users looking to minimize fees.
  • Fast Settlement Times: Transactions on Tron are processed quickly, making it ideal for traders and businesses.
  • Scalability: Tron’s infrastructure supports high transaction volumes without compromising performance.
  • Innovative Features: The introduction of Gas Free transactions and stablecoin integrations enhances its ecosystem.

Tron’s ability to adapt and innovate has solidified its position as a leading blockchain platform, particularly in the stablecoin sector.

What’s Next for Tron?

As Tron continues to expand its ecosystem and attract new users, its dominance in the stablecoin space is expected to grow further. With ongoing developments, increased transaction volumes, and strategic partnerships, Tron is well-positioned to maintain its leadership in the cryptocurrency market.

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