{"id":101316,"date":"2024-11-25T22:54:13","date_gmt":"2024-11-26T02:54:13","guid":{"rendered":"https:\/\/coinscreed.com\/staging\/?p=101316"},"modified":"2024-11-25T22:54:17","modified_gmt":"2024-11-26T02:54:17","slug":"ethereum-regains-usdt-position-against-tron","status":"publish","type":"post","link":"https:\/\/coinscreed.com\/staging\/ethereum-regains-usdt-position-against-tron\/","title":{"rendered":"Ethereum Regains USDT Position Against Tron"},"content":{"rendered":"\n

On November 21, Ethereum<\/a> regained the lead over Tron after 2 years, and the difference has only increased since then.<\/p>\n\n\n\n

\"Ethereum
Ethereum Regains USDT Position Against Tron<\/em><\/figcaption><\/figure>\n\n\n\n

After a 10% increase in the supply of USDT on Ethereum over the past week, Ethereum has surpassed Tron as the most significant blockchain for the Tether stablecoin\r\n \r\n \r\n \r\n <\/g>\r\n \r\n \r\n \r\n <\/clipPath>\r\n <\/defs><\/svg><\/span><\/a>.<\/p>\n\n\n\n

USDT Dominance On Ethereum Blockchain Surpasses Tron<\/h3>\n\n\n\n

According to data from DefiLlama, the value of the United States dollar-backed stablecoin Tether on Ethereum is currently $60.3 billion, while Tron's value is $58.1 billion.<\/p>\n\n\n\n

Tron's USDT supply has decreased by 1.5% in the past week, while ETH's supply has increased by 9.3%, enabling it to surpass Tron for the first time since August 2022.<\/p>\n\n\n\n

\"Ethereum
ETH and Tron lead USDT dominance with respective shares of 45.4% and 43.7%. Source: DefiLlama<\/em><\/figcaption><\/figure>\n\n\n\n

The current all-time high of $132.9 billion in USDT supply is a favorable signal, as stablecoins are the foundation for capital flow and trading liquidity in the broader cryptocurrency ecosystem.<\/p>\n\n\n\n

ETH has been the primary chain financial institutions utilize to tokenize US dollar-backed real-world assets. In high-inflation countries, Tron'<\/a>s low-fee, high-speed chain has facilitated the savings of numerous individuals in stablecoins such as USDT.<\/p>\n\n\n\n

On November 21, Ethereum regained the top spot, and on November 23, it further distinguished itself from Tron when Tether issued $2 billion USDT on Ethereum, as opposed to $1 billion on Tron.<\/p>\n\n\n\n

BNB Chain, Arbitrum, and Avalanche comprise the top five, with USDT supply values of $4.58 billion, $3.09 billion, and $1.31 billion, respectively.<\/p>\n\n\n\n

\"Ethereum
ETH (purple) reclaimed USDT dominance from Tron (green) for the first time since\u00a0 August 2022. Source: DefiLlama<\/em><\/figcaption><\/figure>\n\n\n\n

USDT is the world's largest stablecoin, with a market capitalization of $132.3 billion, followed by Circle's USD Coin<\/a> at $39 billion, according to CoinGecko data.<\/p>\n\n\n\n

The top five companies are USDS (USDS), Ethena USDe, and Dai, with market valuations ranging from $5.3 billion to $3.5 billion.<\/p>\n\n\n\n

On October 7, Tether announced that it had reached 350 million users, equivalent to 4.2% of the global population.<\/p>\n\n\n\n

$26.3 billion, or 67.5% of USDC's market valuation, is the amount of ETH that leads to the dominance of USDC.<\/p>\n\n\n\n

Nevertheless, Tron has not been a competitor to Ethereum in the USDC dominance race since Circle and Binance discontinued support for USDC on Tron in February and March.<\/p>\n","protected":false},"excerpt":{"rendered":"

On November 21, Ethereum regained the lead over Tron after 2 years, and the difference has only increased since then. After a 10% increase in the supply of USDT on Ethereum over the past week, Ethereum has surpassed Tron as the most significant blockchain for the Tether stablecoin . USDT Dominance On Ethereum Blockchain Surpasses […]<\/p>\n","protected":false},"author":59,"featured_media":99241,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[23],"tags":[128,144,1106,2061],"class_list":["post-101316","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-ethereum-news","tag-ethereum","tag-tron","tag-usdc","tag-usdt"],"jetpack_featured_media_url":"https:\/\/coinscreed.com\/staging\/wp-content\/uploads\/2024\/11\/images-93.jpeg","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts\/101316","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/users\/59"}],"replies":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/comments?post=101316"}],"version-history":[{"count":0,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts\/101316\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/media\/99241"}],"wp:attachment":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/media?parent=101316"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/categories?post=101316"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/tags?post=101316"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}