Through several impressive milestones, the TRON network continues to assert its dominance in the stablecoin payment sector. Recently, the amount of USDT (Tether) circulating on TRON has reached a new all-time high.
Meanwhile, the number of TRON's longing holders has exceeded 2.66 million addresses. This reflects the strong confidence and long-term commitment of retail investors to this layer-1 blockchain.
Will TRON's USDT Supply Surpass Ethereum?
According to data from the crypto on-chain platform CryptoQuant, TRON's USDT supply has been steadily increasing in recent years. Currently, TRON's USDT market cap has reached an all-time high, with over $71 billion in USDT circulating.
Meanwhile, Ethereum is circulating $74.5 billion in USDT. TRON is narrowing the gap with ETH in terms of USDT usage by traders.
"This milestone firmly establishes TRON as one of the key blockchains in the DeFi space, and in the future, it may even surpass the adoption of some major chain competitors." – Analyst Darkfost mentioned.
Notably, the total stablecoin market cap is $242 billion, with Tether (USDT) accounting for $149 billion. This means TRON can smoothly trade 29% of the stablecoin market cap and 47% of the USDT market cap.
Additionally, according to Artemis data, TRON accounts for 28% of all active stablecoin wallet addresses, more than any other tracked blockchain. This indicates that TRON is the top chain in terms of fee revenue.
According to a recent BeInCrypto report, experts predict that stablecoins will attract strong VC interest in the future. The number of issuers could increase tenfold. New issuers may choose TRON, which would benefit the blockchain that can handle $150 billion in stablecoin trading volume per week.
TRON (TRX), Supporting Highly Loyal Longing Holders
CryptoQuant also reports that 2.66 million TRX addresses have been holding tokens for over a year, maintaining a balance of at least 10 TRX. While 10 TRX is only a few dollars, many retail investors choose to long-term hold TRON.
Analyst Crazzyblockk believes this indicator shows strong user loyalty and continuous engagement, which could support TRX's price in the long term.
"Increase in long-term holding is often linked to high confidence in the underlying network and potential for liquidity resilience." – Crazzyblockk said.
However, some investors argue that TRON's vitality is overly dependent on USDT trading. According to Dune Analytics, over 3 million TRON wallets are activated daily, but most only trade USDT. Therefore, any strategic changes in the relationship between TRON and Tether could significantly impact the network and TRX price.
This dependency highlights TRON's weak utility outside the USDT realm. For example, TRON is far behind Solana in meme coin distribution, and it is also significantly behind other chains in decentralized exchange (DEX) trading volume compared to other chains. Moreover, TRON seems to almost not exist in the real-world assets (RWA) market share.
At the time of writing, TRX is trading at around $0.25, with little movement after falling from its high of $0.45 at the end of last year.
