US Dollar Tether (USDT), the largest stablecoin, is seeing its Tron-based version outperform the Ethereum version. Transaction count data suggests that the TRC-20 USDT may be 10 times more popular than its ERC-20 competitor.

Tron (TRX) processes nearly 10 times more USDT transfers than Ethereum (ETH)

For more than 40 months in a row, the Tron-based version of the largest stablecoin, USDT, has outperformed the Ethereum-based version. In recent weeks, the dominance of the TRC-20 USDT has achieved a huge milestone as it has become 900% more popular than its counterpart.

These were the accounts subscriber By Cryptocurrency Analyst @Crazzyblockk, CryptoQuant Community Author. While the Tron (TRX) blockchain has processed 22 billion transactions, the number of Ethereum (ETH) transfers has only reached 2.6 billion.

Interestingly, based on charts by @Crazzyblockk, the November 2021 rally was the last for the cryptocurrency market where Ethereum (ETH) served as a major blockchain for stablecoins based on transaction numbers.

In November 2022, due to the market panic caused by the FTX/Alameda collapse (stablecoin transfer metrics rising during price movements in both directions), the Tron-based USDT actually cemented itself as a favored asset.

like Covered By U.Today Previously, Tron (TRX) has surpassed Ethereum (ETH) by several stablecoin-related metrics in 2024.

Ethereum (ETH) remains the dominant chain over USDT, challenges TON Solana (SOL)

Meanwhile, Ethereum (ETH) still outperforms Tron (TRX) when it comes to the net circulating supply available to cryptocurrency holders.

Transparency tracker Tether says there is $74.6 billion in circulation as USDT ERC-20 tokens, while only $58 billion is issued on Tron (TRX).

TON-based USDT, the latest addition to the Tether stablecoin portfolio, has become another mainstream version of USDT for daily transactions.

Despite being active for less than one year, USDT on TON has replaced the Solana stablecoin as the third largest USDT issuance.