- TRON now leads USDT transfers, outpacing Ethereum in volume, transactions, and daily trading activity by a wide margin.
- Both TRON and Ethereum hold nearly $75B USDT supply, but TRON processes 2.4M daily transfers vs. Ethereum’s 284 K.
- TRON’s token price rose 13% in 30 days, supported by strong liquidity and growing dominance in stablecoin use and DeFi.
TRON has overtaken Ethereum as the leading blockchain for USDT transactions, according to new data from CryptoQuant. The report reveals that TRON now processes more Tether transfers than Ethereum across every major metric, including supply volume, transaction count, and daily trading activity.
Tether Dominates TRON’s Smart Contract Ecosystem
In the report, Tether (USDT) was confirmed as the most utilized smart contract on the TRON network in 2025, recording over 291 million transfers. This figure dwarfs all other contracts on the platform, with Wrapped TRX (WTRX) registering just 2.5 million transactions. PayNet Coin follows in third with 1.38 million, highlighting the overwhelming reliance on USDT.
Additional contracts such as USDD, JUST, and BitTorrent (BTT) reflect far lower engagement levels, each registering fewer than half a million transfers. Despite smaller volumes, even the least-used contract in the dataset—SZN—shows over 116,000 transfers, underscoring broad on-chain participation. The data was charted on a logarithmic scale to provide a clearer comparison across contract tiers.
Equal Supply, Unequal Use: Ethereum’s Market Share Shrinks
Both TRON and Ethereum now host nearly equal shares of the total USDT supply, each hovering around $75 billion. TRON holds 75.76 billion USDT, narrowly edging out Ethereum’s 74.54 billion. This near-parity contrasts sharply with the early years when Ethereum dominated stablecoin issuance.
However, TRON leads in daily volume and transaction count. The network processes $23.4 billion in daily USDT transfers and over 2.4 million transactions, compared to Ethereum’s $10.3 billion in volume and just 284,000 transactions. These differences suggest a clear shift in user preference toward TRON’s lower fees and faster settlement.
Price Momentum and Ecosystem Strength Support TRON’s Rise
TRON’s native token, TRX, has also seen positive market movement, rising 12.91% over the last 30 days to $0.2727. Its market cap stands at $25.87 billion, with the entire 94.88 billion TRX supply already in circulation. This stability, coupled with no inflation, appeals to long-term investors tracking ecosystem fundamentals.
Despite a 30% drop in 24-hour trading volume to $635 million, TRON maintains strong liquidity and ranks 9 in total crypto market capitalization. The network’s steady price action, full token circulation, and growing dominance in USDT transfers position it as a critical infrastructure layer for stablecoin utility and DeFi throughput.
