TRON USDT Supply Surpasses $80 Billion Driving TRX Price Up 0.4%

The Tether (USDT) stablecoin has reached a significant milestone on the TRON blockchain, with its supply surpassing $80 billion. This development underscores the growing dominance of the TRON network in USDT settlement, which is expected to influence the future price trajectory of the TRX token. The increased demand for USDT reflects broader market sentiment and the growing adoption of cryptocurrencies.

According to data provider Glassnode, the $80 billion USDT supply on TRON represents over 50% of the total USDT circulating supply. This positions TRON as a leading stablecoin settlement layer, with USDT transactions on the network growing steadily this year. In May, USDT transactions on TRON reached $71 billion, placing it behind Ethereum, which hosts approximately $75 billion worth of USDT. However, USDT has now surpassed Ethereum in net circulating supply, which is currently at $72.9 billion, according to recent updates from Tether.

Other blockchains, such as Solana, Aptos, Toncoin, and Avalanche, have significantly smaller shares of USDT circulation compared to TRON and Ethereum. The USDT supply for Solana is $1.8 billion, Aptos has amassed $810 million, while Toncoin has $543 million. Users prefer TRON for large-scale operations due to its cost-effectiveness, reliability, and speed. The adoption of USDT continued in June, with staked TRX accounting for 46% of all digital currencies on the network, equivalent to 43.8 billion TRX, most of which now powers the TRON ecosystem.

Tether leads the stablecoin market, accounting for 62.2% of the $252.7 billion stablecoin market capitalization. Institutional and remittance use cases fuel the rising demand for USDT within the crypto market. Additionally, a recently passed stablecoin bill, the GENIUS Act, emphasizes the U.S. government’s efforts in using stablecoins to strengthen the dollar’s global dominance. The bill has already cleared key steps in the Senate, winning a 66-32 procedural vote on May 19 and securing stronger consumer and anti-fraud provisions on June 2. Tether is also forming strategic partnerships, likely contributing to increased demand for its stablecoin. The stablecoin issuer recently collaborated with the Orionx crypto exchange to boost stablecoin adoption and digital payments.

TRX, the native token of TRON, has come under the market’s radar following the soaring adoption of USDT on the network. The price of TRX has risen by 0.4% over the past 24 hours, currently trading around $0.273. Analysts believe the stablecoin surge could push the price of TRX higher, particularly if demand for the network continues to rise. Historical data from Cryptorank indicates a possible TRX surge is on the horizon. In July 2022, 2023, and 2024, the price of TRX increased by 6.86%, 2.2%, and 3.34%, respectively. Quarterly data also supports this trend, as TRX usually experiences gains in the second quarter. Therefore, TRX is poised for further rallies if the positive trends in July and Q2 continue this year.