The Tron network is closer to capturing the lead from Ethereum to Tether's circulation after another large mint of the US Stablecoin issuer.
On May 5, Tether mastered another $ 1 billion tether (USDT) on the Tron network, According to In Arkham Intelligence. It brings the total USDT to Tron to $ 71.4 billion, according to Tether Transparency Report.
In comparison, there is a current of $ 72.8 billion USDT circulating -switching to the Ethereum network, so the $ 1.4 billion more USDT in Tron will see it as the leading network for the world's largest provider, as previously in the last two years.
Tron had earlier in Ethereum for USDT circulation between July 2022 and November 2024, but a large $ 18 billion mint in Ethereum pushed the network again, according to the cryptoquant.
The third largest network for the USDT is Solana, with a $ 1.9 billion circulating, and has a smaller amount of tons, avalanche, aptos, close, Celo and Cosmos.
Tether's total circulation is currently on a record of $ 149.4 billion USDT, which has increased by 8.6% since the beginning of this year. This gives the firm a commanding stablecoin market share of 61%, According to In coingecko.
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Its closest competitor, Circle, has a market part of 25% with about $ 62 billion USDC (USDC) in circulation.
The stablecoin has passed in the last six months, and they currently represent 8% of the total capitalization of the crypto market.
In a report in late April, the U.S. Department of Treasury predicted that the Stablecoin market could reach $ 2 trillion by 2028 if regulatory clarity was achieved.
The law of stablecoin near the next vote
It is widely believed that the two major pieces of law need to be passed on to the US law to cement the position of stablecoins.
The guide and establishment of national innovation for the US Stablecoins (Genius) Act set clear definitions for “payment stablecoins” and reserve rules for Stablecoin issues.
Lawmakers in the US Senate are advancing with a vote on the Henyo Stablecoin Bill before May 26, according to reports.
Meanwhile, the Stablecoin Transparency and Accountability for a Better Ledger Economy (Stable) Act, which manages the approval and administration of the “federal qualified nonbank payment stablecoin that provided,” also passing through Congress.
Tether also plans to launch a US-based stablecoin next year, with the timing that depends on the passage of the law.
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