TRON Closing in on Ethereum: USDT Supply Soars to New Heights

TRON has reached a new all-time high in early May 2025, with the USDT supply on its blockchain surpassing $71 billion, a close competitor to Ethereum's $74.5 billion. This is 47% of the total market cap of USDT, and TRON has processed around 29% of the total stablecoin market cap transactions. The growth within the network is underpinned by massive USDT minting in 2025, pushing the supply from $69.7 billion in past weeks.

Over 302 million accounts have been supported by TRON and handle daily USDT transactions of around $19 billion, evidence of its ability to handle massive volumes of transactions. The platform has gained a dedicated user base, with over 2.66 million addresses holding tokens for more than one year, showing high confidence in TRON's long-term prospects.

TRON is also at the forefront of active stablecoin wallet addresses with 28% of the total and commands the most fee revenue in the stablecoin space. TRON's popularity surge is a result of its low transaction fees, high processing rate, and hassle-free interoperation with exchanges, which have driven it to become the go-to choice for stablecoin settlements. All these are especially enticing in emerging markets as well as cross-border transactions, where TRON's rise to the top of the stablecoin payment market and its position as one of the top runners-up together with Ethereum has been propelled.