Tron (TRX)-based version of Tether's U.S. Dollar Tether (USDT) stablecoin has smashed a spectacular milestone

The TRC-20 version of U.S. Dollar Tether (USDT) stablecoin is now in control of over 50% of its aggregated supply.

The TRON-based version of Tether's top stablecoin U.S. Dollar Tether (USDT)has smashed a spectacular milestone amid the upsurge of the crypto markets. Now its share of the Tether (USDT) supply exceeds that of all other blockchains combined.

In recent years, only Ethereum (ETH) was able to demonstrate such a level of dominance.

USDT TRC-20 now responsible for over 50% of entire Tether supply

The TRC-20 version of U.S. Dollar Tether (USDT) stablecoin is now in control of over 50% of its aggregated supply.

While USDT valuation exceeds $150 billion, Tron is responsible for more than $75 billion of this massive chunk, Token Terminal data tracker says.

As covered by U.Today previously, recently, USDT on Tron for the first time exceeded its ERC-20 Ethereum-based version by market cap.

So far, only two blockchains were powerful enough to achieve 50% dominance in the USDT supply.

Besides Ethereum (ETH), the long-term largest blockchain for USDT, in the early phases of the product, Bitcoin's layer Omni was this influential for the biggest stablecoin.

$250,000,000,000: Stablecoin segment eyes new massive cap goal

Normally, the increase of the stablecoin supply is treated like a powerful bullish signal for all major cryptos.

As traders use stablecoins to purchase Bitcoin (BTC), Ethereum (ETH) and so on, the bigger stablecoin supply mirrors increased demand for crypto.

In 2023 only, the aggregated stablecoin supply surged by 20%, from $204 billion to $243 billion. USDT remains the biggest stablecoin with its 62.41% dominance.

USDT is followed by USDC, Circle's stablecoin with $60 billion capitalization. Ethena USD (USDe), Dai (DAI), Sky Dollar (USDS), BlackRock USD (BUIDL), First Digital USD (FDUSD), World Liberty Financial USD (USD1) also have $1 billion plus capitalization each.