TRON Surpasses Ethereum in USDT Supply, Reaches $80.7 Billion

TRON has recently achieved a significant milestone in the stablecoin ecosystem, surpassing Ethereum in USDT supply and transaction volume. The network now holds a 34.8% share of the stablecoin ecosystem, making it a dominant player in the digital asset market. The circulating supply of Tether (USDT) on the TRON (TRC-20) blockchain has surpassed $80 billion, marking a substantial achievement. This development underscores the growing dominance of stablecoins, particularly USDT, in the cryptocurrency ecosystem. The surge in USDT supply on TRON reflects the increasing trust and adoption of the TRON network for stablecoin transactions and storage. This positions TRON as the leading network for USDT, surpassing Ethereum, which previously held the largest share of USDT supply.

The rapid growth of USDT on TRON, from $6.7 billion to $39.4 billion in 2021, highlights the network's ability to attract and retain stablecoin users. This expansion, which saw a nearly 487% increase, demonstrates the network's scalability and efficiency in handling large volumes of stablecoin transactions. The recent milestone of $80.7 billion in USDT supply on TRON further solidifies its position as a preferred platform for stablecoin operations. On June 23, 2025, the Tether Treasury minted an additional $2 billion USDT directly on TRON. This marks the largest single issuance on the network in recent months and underscores Tether’s preference for TRON’s scalability and negligible gas fees during times of high demand. Shortly after the mint, HTX Global received $1.24 billion in net stablecoin inflows, a sharp signal of rising trading activity. This wave of liquidity gives traders greater buying power, potentially boosting major assets like Bitcoin and Ethereum, which tend to respond positively to increased capital flows into exchanges.

The dominance of USDT in the crypto ecosystem is evident, with its circulating supply reaching a record high of $156 billion. This figure underscores the stablecoin's widespread adoption and its role as a key player in the digital asset market. The growing supply of USDT on TRON indicates that users are increasingly turning to the network for stablecoin transactions, driven by factors such as lower fees, faster transaction times, and enhanced security. TRON’s rise in the stablecoin ecosystem has been nothing short of parabolic. From $6.71 billion in early 2021 to over $80 billion in mid-2025, the TRC-20 network has grown by over 1,100% in just four years. The blockchain’s ability to steadily gain users even during the 2022–2023 bear market highlights its resilience and cost-efficiency. While Ethereum remains dominant in DeFi and smart contracts, TRON is increasingly seen as the go-to infrastructure for high-frequency stablecoin transactions, particularly in Asia and other emerging markets.

With stablecoin inflows rising and Tether mints increasing, market observers believe crypto is poised for renewed upside. The timing and scale of this $2B mint suggest Tether is positioning liquidity for a potential Bitcoin breakout, especially amid favorable macroeconomic conditions and easing global risk sentiment. For Bitcoin, the influx of USDT may act as a bullish tailwind, translating to more aggressive spot purchases and leverage deployment in the coming days.

Additionally, on-chain data shows a substantial increase in USDT transfers, highlighting TRON’s widespread usage. The combined efforts of retail and institutional players are driving its adoption. With its low fees and rapid transaction speeds, TRON appeals to both individual users and institutional players. To understand the dynamics, an analyst highlights on-chain data from both angles of retail and institutional. He reveals that since mid-2024, USDT transfers exceeding $1 million have skyrocketed, now surpassing $215 billion. Meanwhile, transfers between $100K and $1 million are also on the rise, currently around $195 billion. This first angle clearly signals a robust institutional presence, contributing to a total volume of $610 billion. On the flip side, smaller transactions ranging from $100 to $10,000 dominate the network’s activity. Notably, transfers between $100 and $1,000 account for over 23 million transactions, underscoring TRON’s widespread appeal among retail users. Overall, TRON is not just expanding in raw volume; it’s also attracting a diverse user base. Retail traders lead in transaction counts, while institutions drive the volume. This dual approach to adoption positions TRON where it is in today’s crypto landscape.

As usage continues to rise, the likelihood of TRON’s price retesting its all-time high (ATH) has significantly increased. It has been witnessed that whenever the TRON price has consolidated in a thin upward channel, a breakout has appeared massive, like Q4 2024. In Q4, the thin Bollinger band migrated from a thinner range to a larger range, triggering a move out of the ascending channel. Similar to that past movement in price action, the latest Q2 2025 price action also resembles an upward parallel channel, and the Bollinger band is also much thinner; an expansion of the Bollinger band could be on the horizon in Q3 2025. If successful trading volume rises, a break above $0.29 could lead to retesting the $0.44 all-time high.