Ethereum

Dollar

Kusama

USDC

Avalanche

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For the first time since August 2022, Ethereum (ETH) hosts a bigger U.S. Dollar Tether (USDT) supply than Tron (TRX). Meanwhile, the aggregated cap of USD-pegged stablecoins targets an all-time high over $200 billion. In one year, the capitalization of USDT jumped by 50%.
<h2 id="68-billion-milestone-ethereum-replaces-tron-as-key-usdt-blockchain">$68 billion milestone: Ethereum replaces Tron as key USDT blockchain</h2>
U.S. Dollar Tether (USDT), the world's largest stablecoin and the third biggest cryptocurrency by market cap, has registered a major tokenomic shift. For the first time in 27 months, its supply on Ethereum (ETH) exceeded that of the Tron-based version.
As of press time, the Ethereum-based supply of Tether (USDT) is capped at $68.4 billion. The Tron-based version (TRC-20 USDT) supply dropped to $60.1 billion. Tron (TRX) flipped Ethereum (ETH) by this metric in August 2022 thanks to the fact that Ethereum (ETH) was plagued by too-high transactional fees.
The majority of USDT transfers on Tron (TRX) were charged with a negligible $1 commission. In the last 12 months, thanks to a number of upgrades, Ethereum (ETH) gas fees saw a notable reduction.
Also, another flippening for USDT is on the menu: the stablecoin supply on TON is ready to exceed that of Avalanche (AVAX).
Currently, $1.3 billion in equivalent is available on Avalanche (AVAX), while $1.22 billion was minted on Ton (TON) blockchain.
<h2 id="usd-stablecoins-eye-200-billion-market-cap">USD stablecoins eye $200 billion market cap</h2>
On Aug. 17, 2023, Tether announced the shutdown of Omni, SLP and Kusama as blockchains for U.S. Dollar Tether (USDT).
Instead, USDT added support for TON blockchain in Q1, 2024. In less than one year, TON's USDT cap jumped from $10 million to over $1.2 billion.
As cryptocurrency markets are welcoming a hotly anticipated bull run, the capitalization of major centralized stablecoins is geared toward a new ATH at $200 billion.
Major stablecoins USDT and USDC have increased their caps by over 50% in the past 12 months. <a href="https://u.today/ethereum-eth-sensationally-surpasses-tron-trx-in-usdt-supply" rel="noopener noreferrer nofollow">Read original article on U.Today</a>

Ethereum (ETH) Sensationally Surpasses Tron (TRX) in USDT Supply

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