The competition between Ethereum and Tron for dominance in the stablecoin sector is heating up again. A recent Tether issuance on Tron has solidified its position among major players.
Increase in Tether Issuance on Tron
On May 5, Tether, the largest stablecoin issuer, minted an additional $1 billion USDT on the Tron network. This increased Tron's total USDT supply to $71.4 billion.
Comparison with Ethereum and Other Networks
Currently, the total USDT supply on Ethereum stands at $72.8 billion, leaving only a $1.4 billion gap between the two networks. Tron previously held the leading position until a major $18 billion mint on Ethereum in December 2024 shifted the balance.
Prospects for the Stablecoin Market
The stablecoin market continues to grow, accounting for 8% of the total cryptocurrency market capitalization, with a current market size estimated at $149.4 billion. Upcoming regulatory clarity in the U.S. may facilitate further expansion of this segment.
The competition between Tron and Ethereum in the stablecoin market remains significant, and a shift towards new regulations in the U.S. could impact both platforms and their future in the market.
