Tether mints $1 billion on Tron

Tether (CRYPTO:USDT) has minted an additional $1 billion USDT on the Tron (CRYPTO:TRX) network, bringing the total supply on Tron to $71.4 billion, according to the Tether Transparency report dated May 5, 2025.

This increase narrows the difference with Ethereum (CRYPTO:ETH), which currently holds $72.8 billion USDT in circulation.

Tron previously led in USDT circulation between July 2022 and November 2024, but Ethereum regained the lead after an $18 billion mint, as reported by CryptoQuant.

The third-largest network for USDT is Solana, with $1.9 billion circulating, followed by smaller amounts on Ton, Avalanche (CRYPTO:AVAX), Aptos (CRYPTO:APT), Near, Celo (CRYPTO:CELO), and Cosmos (CRYPTO:ATOM).

Tether’s overall USDT circulation has reached a record high of $149.4 billion, marking an 8.6% increase since the start of 2025.

This accounts for approximately 61% of the stablecoin market share, according to CoinGecko data.

Circle’s USDC (CRYPTO:USDC) stablecoin holds the second-largest market share at 25%, with nearly $62 billion in circulation.

Stablecoin issuance has grown significantly over the past six months and now represents about 8% of the total cryptocurrency market capitalisation.

The United States Treasury Department forecasted in late April that the stablecoin market could reach $2 trillion by 2028, contingent on regulatory clarity.

Two key pieces of U.S. legislation are expected to shape the stablecoin sector: the GENIUS Act, which defines payment stablecoins and reserve requirements, and the STABLE Act, which oversees federally qualified nonbank stablecoin issuers.

Reports indicate the U.S. Senate plans to vote on the GENIUS stablecoin bill before May 26, 2025.

Tether has also announced plans to launch a U.S.-based stablecoin later this year, pending the passage of relevant legislation.

At the time of reporting, the TRON price was $0.2473.