TechFlow reported on November 26, citing The Block, that the USDT supply on the Ethereum network reached 66.936 billion, surpassing Tron's 61.77 billion—the first time since June 2022. So far this year, USDT supply on Ethereum has grown nearly 62%, compared to a 24.4% increase on the Tron network.
Analysts attribute the surge in USDT supply on Ethereum to improved market sentiment following Bitcoin's recent breakthrough of its all-time high, as well as expectations surrounding the approval of spot Bitcoin ETFs driving institutional capital inflows. As the dominant chain for DeFi, Ethereum holds advantages in institutional adoption and stablecoin liquidity, while Tron maintains competitiveness in cross-border payments due to its low fees and fast transaction speeds.
