The stablecoin market has experienced significant growth, with over $1.25 billion in $USDT and $USDC minted in the past 11 hours. Tether issued 1 billion $USDT on the Tron network, while Circle minted 250 million $USDC on Solana.
Tron & Solana Take the Lead
Since the beginning of 2025, Tether has minted 3 billion $USDT exclusively on the Tron network. Meanwhile, Circle has significantly expanded its supply of $USDC, issuing a massive 7.75 billion tokens on Solana. This pattern highlights the increasing dominance of these blockchains in the stablecoin ecosystem, offering faster and more affordable transactions than Ethereum.
Ethereum’s Declining Role in Stablecoin Minting
Notably, the recent wave of stablecoin minting has largely bypassed Ethereum. Once the primary hub for stablecoin issuance, Ethereum is now facing stiff competition from alternative networks that offer better scalability and lower transaction fees. While Ethereum remains crucial for DeFi applications, the shift in stablecoin minting suggests that institutional issuers are favoring more efficient chains for direct token issuance.
Prospects in the Stablecoin Market
Given the continuing growth of stablecoin issuance on platforms like Tron and Solana, these networks are likely to become major contenders to traditional blockchains like Ethereum. This trend could shift the power dynamics in the cryptocurrency industry, offering new opportunities for developers and investors seeking faster and more efficient solutions.
The current increase in the stablecoin market indicates a gradual shift in issuer preferences towards faster and more cost-effective blockchains. This may lead to significant changes in the cryptocurrency ecosystem in the future.
