Tether’s USDT stablecoin has achieved a historic milestone, reaching a total supply of $156.1 billion. This record underscores its continued dominance within the stablecoin market despite facing regulatory scrutiny and increasing competition.
The distribution of USDT supply heavily favors the Tron and Ethereum blockchains. More than 50% of the total USDT supply resides on the Tron network, while nearly 40% is issued on Ethereum.
While USDT commands the overall stablecoin market with over 62% of the total supply across all chains, competitor Circle’s USDC holds a 24% share. Notably, USDC has gained significant traction on smaller blockchains like Solana, where its $7.5 billion supply surpasses USDT’s $2.3 billion presence.
Tether has proactively adjusted its offerings in response to evolving regulations. The company withdrew its EURT stablecoin from circulation, prioritizing operational flexibility over compliance with the European Union’s Markets in Crypto-Assets (MiCA) framework.
Potential regulatory challenges loom in the United States with the proposed GENIUS Act, which could introduce hurdles for stablecoin issuers like Tether. Despite these headwinds, USDT’s market dominance remains robust.