The circulating supply of Tether (USDT) on the Tron blockchain (TRC-20) has exceeded $80 billion, marking a significant breakthrough for the network and underscoring its growing prominence in the stablecoin ecosystem, according to CryptoQuant data. Since late 2020, Tron has witnessed parabolic growth in USDT issuance, expanding from under $7 billion to more than $80 billion by mid-2025. This surge reflects a broad and steady adoption, even during periods of market stagnation.
Tron first surpassed Ethereum in total USDT circulation in November 2024, spotlighting user preference for Tron's lower transaction fees and faster speeds. Adding to this momentum, Tether recently minted $2 billion USDT solely on Tron, its largest issuance in recent months, emphasizing the blockchain's role as Tether’s favored platform for liquidity management.
The increased USDT supply led to substantial inflows of stablecoins into centralized exchanges such as HTX Global, hinting at heightened trading activity anticipating bullish market conditions.
Meanwhile, TRON’s native token, TRX, has reflected early signs of recovery in price, currently trading at around $0.2729—showing a modest 2.2% gain in 24 hours though still 36% below its December 2024 peak. Network metrics present mixed signals: while total value locked (TVL) has declined from $7.5 billion in January to $4.3 billion, decentralized exchange (DEX) volumes increased from $4.9 billion in April to $5.5 billion in May, indicating renewed on-chain trading activity.
Technical indicators reveal TRX consolidating near key support levels with neutral momentum but potential for a bullish breakout should it surpass the $0.28 range.