Tron Beats Ethereum and Other Chains as USDT Supply Hits $80B

Tron blockchain has achieved a milestone in the crypto universe. The total circulation of USDT (Tether) on the Tron blockchain has surpassed $80 billion. Tron is the top-performing blockchain for USDT transactions, with Ethereum and 19 other chains following.

The growth in USDT supply on Tron is not a new development. Tron’s USDT totaled roughly $6.7 billion by 2020. By the end of 2021, the sum had risen to $39.4 billion, a 487% increase. 

The growth didn’t end there. The USDT supply on Tron in 2025 increased from $59.7 billion at the start of the year to $80.76 billion in the middle of the year, and it is still increasing. On November 13, 2024, Tron surpassed Ethereum’s $72.51 billion in total USDT supply, a position that had been held for more than three years by Ethereum.

While Ethereum still boasts a robust DeFi ecosystem and a broader diversity of stablecoins, Tron’s focus on efficient payments has allowed it to capture a dominant share of the USDT market. Other chains like Solana ($1.81 billion), Aptos ($795 million), and TON ($563 million) have much smaller shares of USDT circulation compared to Tron and Ethereum. USDT is the most widely used stablecoin within the cryptocurrency market.

The reality that Tron currently dominates USDT transactions indicates that it has become the choice for users and exchanges. Tron charges significantly lower transaction fees and processes them faster than Ethereum. Because of these, most users are now opting to use Tron when sending and receiving stablecoins.

Recently, the Tether Treasury minted $2 billion USDT on Tron alone, not on Ethereum or any other chain. This points out that Tether itself now prefers Tron for its big-scale operations because it’s cheap, reliable, and fast.

Following this mint, there were inflows of stablecoins into large exchanges such as HTX Global, which received $1.24 billion in inflows within hours. That is usually the case when the market is preparing for a bullish trend — traders prefer to have liquidity prepared to burst into action.

In the last week alone, there were more than 730,000 active USDT wallets on the Tron network. In contrast, Ethereum had only about 79,000 active USDT addresses for the same period. This stark contrast suggests that more and more individuals are choosing to use Tron for stablecoin transactions.

With this kind of activity, Tron is no longer simply a competitor — it is leading the way in stablecoin transactions and adoption.