TRON (TRX) Network Updates: USDT (Tether) Supply Reaches New All-Time High

The TRON network continues to assert its dominance in the stablecoin payment sector, achieving several impressive milestones.

Recently, the amount of USDT (Tether) circulating on TRON reached a new all-time high. Meanwhile, the number of long-term holders on TRON has exceeded 2.66 million addresses.

Can TRON Outpace Ethereum in USDT Supply?

Data from CryptoQuant reveals that TRON is quickly closing the gap with Ethereum in terms of traders’ USDT usage. Currently, there is said to be over $71 billion USDT in circulation on TRON, hitting a record high in market cap.

For comparison, there is $74.5 billion USDT on Ethereum.

“This milestone cements TRON’s position as one of the major blockchains in the DeFi space, and it may even surpass the adoption of some major chain competitors in the future,” Analyst Darkfost commented.

To put this in perspective, the total stablecoin market capitalization is $242 billion, and Tether (USDT) alone accounts for $149 billion.

This means that TRON is facilitating smooth transactions for 29% of the stablecoin market cap and 47% of USDT’s market cap.

Additionally, data from Artemis shows that TRON accounts for 28% of all active stablecoin wallet addresses, more than any other blockchain tracked closely by the firm. This makes it the top chain in terms of fee revenue.

For this reason, TRON could benefit if more stablecoin issuers decide to expand. A recent report from BeInCrypto predicts that stablecoins will attract strong VC interest in the future, and the number of issuers could grow tenfold.

If true, this would create more demand for blockchains like TRON, which can handle around $150 billion in weekly stablecoin transaction volume.

At present, Tether is the largest stablecoin, but it faces stiff competition from emerging stablecoins.

Tron (TRX) Backed by Loyal Long-Term Holders

CryptoQuant also reports that 2.66 million TRX addresses have held their tokens for over one year without spending them. These wallets maintain balances of at least 10 TRX.

While 10 TRX is worth only a few dollars, many retail investors prefer to hold TRON for the long term, even with small amounts of capital.

This metric indicates strong user loyalty and sustained engagement, which can support TRX’s price in the long run, according to Analyst Crazzyblockk.

“Increased long-term holding is often linked to higher confidence in the underlying network and potential for liquidity resilience,” Crazzyblockk said.

However, some investors believe that TRON’s vitality relies too heavily on USDT transactions.

Data from Dune shows over 3 million TRON wallets are active daily, but most only transact USDT. Therefore, any strategic changes in the TRON–Tether relationship could significantly impact the network and the price of TRX.

This dependency highlights TRON’s weak utility outside the USDT space. For example, TRON lags far behind Solana in meme coin deployment and is significantly behind other chains in decentralized exchange (DEX) trading volume. Moreover, TRON appears nearly absent from the real-world asset (RWA) market share.

At the time of writing, TRX is trading around $0.25, showing little movement after falling from a high of $0.45 late last year.