TRON Tops Ethereum in USDT Liquidity, Driving New Wave of Onchain Activity:CryptoQuant
Main Idea
TRON has surpassed Ethereum as the leading network for USDT liquidity, with higher transaction volumes, user activity, and fee revenue, driven by its gasless transaction model and expanding DeFi ecosystem.
Key Points
1. TRON's USDT supply is $80.8 billion, surpassing Ethereum's $73.8 billion, marking a 35% rise since early 2025.
2. TRON processes 2.3-2.4 million daily USDT transactions, 6.8 times higher than Ethereum, and over $24.6 billion in daily USDT value.
3. TRON's gasless transaction model accounts for 75% of network activity, up from 60% in late 2023.
4. SunSwap, TRON's decentralized exchange, maintains swap volumes above $3 billion monthly, with JustLend seeing a 23% increase in borrowing transactions.
5. TRON's fee revenue hit a record $308 million in June 2025, despite the rise in fee-free transactions.
Description
TRON has taken the lead as the dominant network for USDT, overtaking Ethereum in both stablecoin liquidity and user transactions, according to a new report from CryptoQuant. Ethereum lost the stablecoin crown. TRON now leads in USDT supply, fees and daily transfers. Join our Space with @trondao on July 30, 10 AM PT to unpack how they pulled it off. Set your reminder https://t.co/Uz25njT1sW — CryptoQuant.com (@cryptoquant_com) July 28, 2025 With a USDT supply now standing at $80.8 billion compare...
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