This brings the total USDT on Tron to $71.4 billion, according to the Tether Transparency report. In comparison, there is currently $72.8 billion USDT circulating on the Ethereum network, so just $1.4 billion more USDT on Tron will see it become the leading network for the world’s largest stablecoin issuer, as it has been previously over the last two years. Tron was ahead of Ethereum for USDT circulation between July 2022 and November 2024, but a large $18 billion mint on Ethereum pushed the network ahead again, according to CryptoQuant. The third-largest network for USDT is Solana, which has $1.9 billion circulating, and there are smaller amounts on Ton, Avalanche, Aptos, Near, Celo and Cosmos. USDT circulation on Ethereum and Tron.
This gives the firm a commanding stablecoin market share of 61%, according to CoinGecko. Related: Tether AI platform to support Bitcoin and USDT payments, CEO saysIts closest competitor, Circle, has a market share of 25% with almost $62 billion USDC (USDC) in circulation.
In a report in late April, the United States Treasury Department predicted that the stablecoin market could reach $2 trillion by 2028 if regulatory clarity is achieved. Stablecoin legislation nearing next vote It is widely believed that two key pieces of legislation need to be passed into law in the US to cement the position of stablecoins. The Guiding and Establishing National Innovation for US Stablecoins (GENIUS) Act sets out clear definitions for “payment stablecoins” and reserve rules for stablecoin issuers.
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Author / Journalist: Cointelegraph by Martin Young
The story "Fresh $1B in Tether mints on Tron, closing gap again with Ethereum" has 433 words across 19 sentences, which will take approximately 2 - 4 minutes for the average person to read.
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