TRON Overtakes Ethereum in USDT Supply as Users Prioritize Speed and Low Fees

TRON Becomes the Leading Network for Tether

TRON has officially surpassed Ethereum in circulating USDT supply for the first time, signaling a notable shift in stablecoin transaction preferences. Data from CryptoQuant shows Tether’s presence on the TRON network reached $73.8 billion, edging out Ethereum’s $71.9 billion.

The change highlights a growing trend among users — especially in emerging economies — to favor TRON’s faster and more cost-effective infrastructure for stablecoin transfers, particularly as Ethereum’s gas fees and congestion remain persistent challenges.

Efficiency and Growth Propel TRON’s Dominance

Analyst JA Maartun of CryptoQuant credits TRON’s rise to consistently low transaction costs, rapid block times, and dependable network performance. TRON’s stablecoin supply has grown steadily since mid-2023, with over $14 billion in new USDT minted in the first five months of 2025 alone.

TRON’s technical stability also plays a key role. The network maintains a 99.7% block production rate, with 30 Super Representatives (SRs) actively participating in governance and block generation. As of 2025, 24 SRs are responsible for producing nearly 4% of all blocks, marking a stark contrast to TRON’s earlier, less stable years.

USDT now commands a 62.05% market share in the stablecoin space, according to DefiLlama, with over $150 billion in circulation. This dominance is reinforced by a drop in usage of competitors like USDC and TUSD. Artemis reports stablecoins are now processing $521.3 billion in weekly volume — far outpacing Visa’s $319 billion and PayPal’s $32 billion.

A Global Shift in Stablecoin Use

Novaque Research suggests the move to TRON isn’t just a technical preference but a reflection of changing user profiles. The firm notes that stablecoin activity has increasingly shifted from small retail holders to wallets holding between $10,000 and $1 million — a sign of growing involvement from OTC desks, remittance services, and institutional-grade payment firms.

Despite TRON’s network growth, its native token TRX has remained relatively stable. It currently trades around $0.26, down 2% on the day but still up nearly 8% for the week. However, the token remains 38% below its all-time high set above $0.43 late last year.

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