Tron’s USDT holdings surged from $59.7B to $82.76B in eight months, increasing its market share to 50.91% and overtaking Ethereum.
Ethereum’s USDT supply grew slightly to $79.7B, but its market share fell from 56.27% to 49.08%, losing the top position.
The GENIUS ACT and Tron’s low-cost, fast infrastructure have driven stablecoin adoption, boosting transaction volumes and network utilization significantly.
The USDT supply on the Tron network has recorded a sharp rise over the past eight months, overtaking Ethereum in total holdings.
Tron Overtakes Ethereum in USDT Holdings
In January 2025, the Tron network held $59.7 billion in USDT, representing 43.72% of the total market share. At the time, Ethereum maintained the lead with $76.9 billion, controlling 56.27% of the market.
Data now shows a major shift. As of August 3, 2025, USDT on Ethereum rose modestly by 3.64% to $79.7 billion. This increase, however, was not enough to prevent its market share from falling to 49.08%. Tron’s USDT supply surged 38.6% to reach $82.76 billion, giving it a 50.91% share and the number one position.
Growth Driven by Network Efficiency
Industry observers attribute this change to Tron’s fast, low-cost, and reliable infrastructure. These characteristics have attracted higher volumes of stablecoin transactions, offering users lower fees and faster settlement speeds than competing networks.
A post by market analyst Burak Kesmeci noted that the GENIUS ACT, passed in July, accelerated stablecoin adoption. This legislation provided a supportive environment for stablecoin usage, further fueling demand on networks with cost-efficient performance such as Tron.
Market data suggests that Tron’s position as the leading USDT network is supported by growing activity in both retail and institutional transactions. This has increased overall network utilization, enhancing its role as a preferred stablecoin settlement layer.
Outlook for USDT Distribution Across Networks
The rise in Tron’s USDT share represents a substantial redistribution of stablecoin liquidity between major blockchain networks. Ethereum, despite still holding a large volume, has ceded dominance for the first time in several years.
If the current growth rate continues, Tron could consolidate its lead in the stablecoin market. Analysts point out that maintaining low transaction costs and consistent network performance will be key to sustaining this trajectory.
For now, Tron’s achievement marks a milestone in the evolving competition between blockchain ecosystems for stablecoin liquidity and user activity.
