For the first time, the TRON blockchain’s TRC-20 version of USDT has surpassed Ethereum’s ERC-20 version in total supply. Data from market analysts and Tether’s transparency portal confirms that as of May 2025, TRON now holds $73.8 billion in USDT supply, edging out Ethereum’s $71.9 billion.
This shift reflects a change in user preferences, largely driven by TRON’s lower transaction fees and faster speeds. Many users, especially in regions prioritizing cost efficiency for micro-transactions, have increasingly adopted TRC-20 USDT for transfers and trading due to these benefits. Exchanges and wallets have adapted accordingly, offering widespread support for TRON-based deposits and withdrawals.
While Ethereum continues to lead in DeFi and NFT applications, its higher gas fees and recent loss of USDT dominance have placed increased pressure on the network. Meanwhile, TRON’s positioning as the most popular blockchain for USDT transfers validates its strategic focus on high throughput and low-cost transactions. The event underscores how different blockchains now serve distinct primary purposes: TRON for efficient stablecoin moves, and Ethereum for advanced DeFi and NFT use cases. Overall, this flip marks a turning point for the stablecoin sector and user behavior, highlighting the importance of cost and speed for mass adoption.
