tl;dr
The total circulating supply of USDT on the Tron blockchain (TRC-20) has exceeded $80 billion, marking significant growth and dominance in the stablecoin market. Since late 2020, Tron’s USDT issuance grew sharply, rising from $6.71 billion in 2021 to $80.76 billion by mid-2025. On November 13, 2024,...
The circulating supply of USDT on the Tron blockchain has surpassed $80 billion, marking significant growth and dominance in the stablecoin market. Since late 2020, Tron’s USDT issuance experienced parabolic growth, rising from $6.71 billion in 2021 to $80.76 billion by mid-2025. This surge underscores Tron’s increasing appeal, especially as it overtook Ethereum in total USDT circulation on November 13, 2024, driven by its lower fees and faster transaction speeds.
Recently, Tether minted $2 billion USDT solely on the Tron network, highlighting Tron's role as Tether's preferred blockchain for large liquidity operations. This substantial mint led to increased stablecoin inflows to centralized exchanges, often signaling forthcoming bullish market activity. For instance, HTX Global received a net inflow of $1.24 billion in stablecoins within hours following this issuance.
Enhanced stablecoin liquidity on exchanges may increase buying power, particularly for Bitcoin, by enabling greater capital deployment that can create upward price pressure. Tron's scalability and negligible transaction costs continue to make it attractive for large-scale stablecoin operations, which in turn supports its growing prominence in the crypto ecosystem.
The steady growth of USDT on Tron, even during relatively stagnant periods like 2022-2023, reflects ongoing demand and adoption. As stablecoins become increasingly instrumental in market liquidity, Tron's ability to facilitate fast and low-cost transactions positions it as a strategic player influencing broader crypto market dynamics.