A major player has emerged in the stablecoin market on the Tron network. The USDT stablecoin is now the main choice for value transfers and trading.
A recent analysis by CryptoQuant shows that USDT makes up 98.5% of the stablecoin supply on Tron. This makes it the clear leader in the market.
USDT has a circulating supply of $62.76 billion out of nearly $64 billion on the Tron network. Other stablecoins have very small shares. USDC holds 0.06%, USDD has 1.15%, TUSD accounts for 0.26%, and USDJ is at 0.01%.
Since March 2024, the supply of other stablecoins has remained flat. In contrast, USDT has continued to grow and solidify its position as the market leader. USDT is crucial for liquidity on the Tron network.
When the price of TRX is unstable, on-chain volume from centralized exchanges can reach $4–$5 billion daily. This shows that USDT is not only the most common stablecoin but also a key component for transactions on the Tron blockchain.
Data from IntoTheBlock indicates that 69% of all USDT activity, which is over 14 million transactions each week, takes place on the Tron network. This is an increase from 61% at the end of January.
