Plasma News Today: TRON's Ecosystem Expansion Outpaces Plasma's USDT Dependence in Stablecoin War

TRON's stablecoin ecosystem expanded significantly in 2025, with the network securing $1.1 billion in stablecoin inflows, primarily driven by USDT activity. The TRON blockchain now hosts $81 billion in stablecoins, a 40% increase since the start of the year, with USDT accounting for 99% of the total supply. Over 67 million TRON accounts hold USDT, and more than 1 million of them conduct daily transfers, resulting in 65 million USDT transactions in June alone, totaling $600 billion in volume Cointelegraph^[1]. This growth underscores TRON's role as a core infrastructure layer for stablecoin settlements, with the network ranking second in transaction throughput and daily active addresses, trailing only Solana Cointelegraph^[1].

TRON's dominance is further reinforced by strategic updates, including gas-free USDT transfers. Users must activate a GasFree wallet with a one-time 1 USDT fee, after which each transfer incurs a fixed 1 USDT commission instead of TRX. While this model offers predictable fees, critics argue it may be inefficient for small, frequent transactions Cointelegraph^[1]. The network's financial performance also improved, with Q2 revenue hitting an all-time high, up 20% compared to Q1 Cointelegraph^[1].

In contrast, Plasma, a newer Layer 1 blockchain designed for zero-fee stablecoin transfers, experienced a sharp reversal in fortunes. Despite a 17% surge in total value locked (TVL) to $6.32 billion in late September 2025 Elevenews.com^[6], Plasma reported a $996 million stablecoin outflow in early October, according to Coinfomania Coindesk^[7]. The platform, which launched with $1 billion in stablecoin TVL and EVM compatibility, faced challenges competing with established networks like TRON and Ethereum. While Plasma's zero-fee model initially attracted attention, its reliance on USDT and limited ecosystem diversity made it vulnerable to market shifts Coindesk^[7].

Plasma's technical architecture, anchored to Bitcoin and leveraging PlasmaBFT consensus, aims to address scalability and security gaps in existing stablecoin networks. However, its rapid growth has not translated into sustained user retention. For instance, the network's monthly active users fell by 22.6% to 26 million in late September 2025, while transaction volume dropped 11% to $3.17 trillion Tronweekly.com^[2]. This decline highlights the challenges of competing with TRON's entrenched user base and Ethereum's institutional appeal .

The stablecoin market's broader trends reflect a shift toward cost efficiency and infrastructure specialization. TRON's ability to process $5.23 trillion in USDT transactions in 2025-surpassing PayPal's daily volume-cements its position as the leading stablecoin settlement layer Castlecrypto.gg^[3]. Meanwhile, Plasma's ambitious $1 billion deposit cap, filled within 30 minutes in June 2025, demonstrated strong initial demand but failed to sustain momentum . Analysts attribute Plasma's struggles to its narrow focus on USDT and the lack of robust DeFi integrations compared to TRON's diversified ecosystem Coindesk^[7].

Regulatory developments also influenced the landscape. The U.S. GENIUS Act, which mandates reserve backing and auditing for stablecoin issuers, created a favorable environment for compliant platforms like TRON and Plasma . However, TRON's first-mover advantage and deep integrations with exchanges like Binance gave it a competitive edge over newer entrants .

In summary, TRON's stablecoin dominance in 2025 was driven by its scalable infrastructure, growing user base, and strategic partnerships, while Plasma's zero-fee model and Bitcoin anchoring failed to offset its reliance on a single stablecoin and limited ecosystem diversity. As the stablecoin market continues to evolve, networks that balance cost efficiency with robust DeFi ecosystems are likely to capture the most value.