The Tron network is closing in on Ethereum in terms of Tether (USDT) circulation after a significant mint. Here's a breakdown:
- *Recent Mint:* Tether minted an additional $1 billion USDT on the Tron network on May 5.
- *Tron USDT Circulation:* Increased to $71.4 billion, according to Tether's transparency report.
- *Ethereum USDT Circulation:* Currently hosts $72.8 billion USDT.
- *Tron's Path to Leadership:* Needs just $1.4 billion more to surpass Ethereum and become the leading network for USDT.
- *Historical Context:* Tron previously held the top position between July 2022 and November 2024, before Ethereum took the lead after an $18 billion mint.
- *Other Networks:*
- *Solana:* $1.9 billion USDT in circulation, ranking third.
- *Other networks:* Ton, Avalanche, Aptos, Near, and others have smaller amounts of USDT in circulation.
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