- Tron has overtaken Ethereum in total USDT supply, reaching $73.8 billion due to its low fees, fast settlements, and strong network performance.
- With rising transaction volumes, increased DeFi activity, and new features like Gas Free, Tron is solidifying its lead in the stablecoin ecosystem.
Tron has officially flipped Ethereum in the total circulating supply of USDT, signaling a major shift in the stablecoin ecosystem. As of May 6, Tron’s USDT supply hit $73.8 billion, surpassing Ethereum’s $71.9 billion, according to data shared by CryptoQuant.
TRON $73.8B USDT Supply Overtakes Ethereum’s USDT Supply
“For the first time ever, the total supply of USDT on TRON (TRC-20) surged past that on Ethereum (ERC-20), reaching $73.8B versus $71.9B.” – By @JA_Maartun pic.twitter.com/wuhj8HFPEb
— CryptoQuant.com (@cryptoquant_com) May 12, 2025
This milestone marks the first time Tron has led USDT issuance, capping nearly two years of steady growth driven by low fees, fast settlement times, and network reliability.
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Why Tron Is Winning the Stablecoin Race
Since mid-2023, Tron has seen consistent adoption, particularly in large-scale Tether transactions. In the first half of 2025 alone, over $14 billion in new USDT has been minted on Tron’s TRC-20 network. Its affordability and efficiency have made it the go-to platform for DeFi users, crypto traders, and businesses that prioritize high-speed, low-cost transactions.
Ethereum, once the dominant platform for USDT, is now losing users to more economical alternatives. Persistent high gas fees and slower settlement times have forced users to explore platforms like Tron and various Ethereum Layer-2 solutions.
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Tron’s Ecosystem Thrives Beyond Stablecoins
Tron’s on-chain activity has been surging. The network processes more than 8.4 million daily transactions and recently surpassed 10 billion in total. April alone saw a 40% jump in decentralized exchange volume, increasing from $3.4 billion to $4.9 billion. Its total value locked (TVL) has also risen to over $5 billion.
World Liberty Financial added further momentum by integrating its USD1 stablecoin onto Tron on May 1. Additionally, Tron introduced a new Gas Free feature during TOKEN2049 in Dubai, allowing users to pay network fees without holding TRX—making the blockchain even more user-friendly.
TRX Price and Future Outlook
TRX is currently trading at $0.2618, up more than 6% in the past week. Tron founder Justin Sun remains optimistic, predicting that TRX could reach a new all-time high this quarter. He cites increasing network activity and stronger correlations with bitcoin as key drivers.
With its growing dominance in USDT supply and expanding ecosystem, Tron appears well-positioned to maintain its momentum and challenge Ethereum’s long-held position in the stablecoin market.
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