Tron's USDT holdings have significantly increased over the past eight months, surpassing Ethereum in total volume.
Current USDT Status on Tron and Ethereum
In January 2025, the Tron network held $59.7 billion in USDT, representing 43.72% of the total market share. At that time, Ethereum maintained the lead with $76.9 billion, controlling 56.27% of the market.
Data as of August 3, 2025, shows a shift. USDT on Ethereum rose slightly by 3.64% to $79.7 billion. However, this increase was not enough to prevent its market share from falling to 49.08%. Tron's USDT supply surged 38.6% to reach $82.76 billion, giving it a 50.91% share and the number one position.
Factors Driving USDT Growth on Tron
Industry observers attribute this change to Tron's fast, low-cost, and reliable infrastructure. These characteristics have attracted higher volumes of stablecoin transactions, offering users lower fees and faster settlement speeds than competing networks.
A post by market analyst Burak Kesmeci noted that the GENIUS ACT, passed in July, accelerated stablecoin adoption, providing a supportive environment for stablecoin usage and further fueling demand on networks with cost-efficient performance such as Tron.
Outlook for USDT Distribution Across Networks
The rise in Tron's USDT share represents a substantial redistribution of stablecoin liquidity between major blockchain networks. Ethereum, despite still holding a large volume, has ceded dominance for the first time in several years.
If the current growth rate continues, Tron could consolidate its lead in the stablecoin market. Analysts point out that maintaining low transaction costs and consistent network performance will be key to sustaining this trajectory.
Tron's achievement marks a milestone in the evolving competition between blockchain ecosystems for stablecoin liquidity and user activity.
