The cryptocurrency landscape is shifting, and Tron has reached a pivotal milestone. The total supply of Tether (USDT) issued on the Tron network has now surpassed $80 billion, solidifying its position as the leading blockchain for USDT issuance. This achievement comes at a time when TRX—the native token of the Tron ecosystem—may be poised for a rebound, despite declining overall market trading volumes. Technical indicators suggest underlying strength, hinting at potential upside momentum.
Tron Emerges as the Leading Platform for USDT Transactions
According to data shared by CryptoQuant contributor Maartunn, the circulating supply of USDT on Tron officially exceeded $80 billion by mid-June. Just four years ago, that figure stood below $7 billion—an extraordinary growth trajectory that has remained resilient across both bull and bear markets.
A key turning point occurred in November 2024, when Tron overtook Ethereum in total USDT issuance. While Ethereum continues to dominate in decentralized finance (DeFi) total value locked (TVL), Tron has carved out a strong niche by offering faster transaction speeds and significantly lower fees. These advantages make it particularly appealing for high-frequency trading environments, peer-to-peer transfers, and users in emerging markets where cost-efficiency is critical.
By mid-2025, Tron’s USDT holdings surged from $597.6 billion to over $807.6 billion. Even as DeFi TVL on the network declined from $75 billion to $43 billion, according to DefiLlama, Tron’s role as a transactional layer continues to expand. This shift underscores a clear user preference: speed and low cost are now prioritized over yield-generating DeFi participation.
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Rising Activity Despite Declining TVL
While Tron’s USDT metrics hit new highs, TRX’s spot price performance remains relatively subdued. Over the past week, TRX traded between $0.2605 and $0.2791, currently hovering around $0.2725—a modest 2% gain over 24 hours. However, this is still far from its December 2024 peak of $0.4313.
Interestingly, decentralized exchange (DEX) trading volume on Tron has increased even as TVL declined. Monthly DEX volume rose from $49 billion in April to $55 billion in May, indicating that although users are withdrawing funds from yield protocols, on-chain trading activity is intensifying.
This trend suggests a shift toward capital mobility rather than capital commitment. Users appear to favor flexibility—moving funds quickly across platforms—over locking them up for long-term returns. This behavior reflects broader market caution amid macroeconomic uncertainty, including fluctuating interest rates and regulatory developments.
Yet this isn’t necessarily a sign of weakness. Instead, it highlights Tron’s adaptability as a network optimized for liquidity and rapid transactions—qualities increasingly valued in volatile markets.
Technical Indicators Suggest Potential Strength
TRX is currently consolidating near key support levels, with traders awaiting a decisive breakout. The price trades slightly below the 20-day simple moving average (SMA), a psychological threshold often watched by short-term traders. However, TRX remains above the 10-, 30-, 50-, and 100-day exponential moving averages (EMAs), signaling sustained medium- to long-term bullish momentum.
The Bollinger Bands have begun to contract slightly, indicating reduced volatility—a pattern often preceding significant price movements. With TRX positioned near the middle band, the market sits in neutral territory, potentially setting the stage for an imminent directional breakout.
The Relative Strength Index (RSI) hovers around 50, reflecting balanced buying and selling pressure. Momentum oscillators and sentiment-based indicators lean slightly bullish, while the MACD remains in mildly bearish territory but shows signs of flattening—suggesting a possible shift in sentiment.
A breakout above the 20-day SMA with strong volume could propel TRX past the $0.28 resistance level, with targets at $0.30 and potentially $0.32. Conversely, failure to hold above $0.265 could lead to a retest of the lower Bollinger Band near $0.262.
What This Means for TRX
The $80 billion USDT supply milestone underscores Tron’s growing dominance in the stablecoin ecosystem. Even as DeFi TVL declines, the network continues to attract users focused on efficiency, low costs, and fast settlements—particularly in regions where traditional financial infrastructure lags.
For TRX holders, these developments suggest more than just network utility—they reflect increasing demand for the underlying infrastructure that powers billions in daily transactions. As Tron strengthens its role as a global settlement layer for USDT, the fundamental value proposition of TRX gains credibility.
Moreover, the current technical setup indicates that TRX may be forming a base ahead of a potential rally. Market indecision often precedes strong moves, and with positive structural trends supporting on-chain activity, the conditions for a rebound appear increasingly favorable.
Frequently Asked Questions (FAQ)
Q: Why is Tron’s USDT supply important?
A: A growing USDT supply on Tron reflects increased adoption of its blockchain for stablecoin transfers. It signals trust in the network’s reliability, speed, and low fees—key factors for global remittances and trading.
Q: Does declining TVL mean Tron is losing relevance?
A: Not necessarily. While TVL measures locked capital in DeFi, rising DEX volumes show active trading. Users may prefer liquidity over locking assets, especially in uncertain markets—highlighting Tron’s strength as a transactional chain.
Q: What factors could drive TRX price higher?
A: Increased USDT issuance, rising transaction volume, network upgrades, and broader crypto market recovery could all contribute to TRX appreciation. A sustained breakout above $0.28 would be a key bullish signal.
Q: Is TRX a good long-term investment?
A: TRX’s long-term potential depends on continued growth in on-chain activity, developer adoption, and real-world use cases like payments and cross-border transfers. Its role in facilitating stablecoin transactions adds structural demand.
Q: How does Tron compare to Ethereum for stablecoin use?
A: Tron offers faster confirmations and lower fees than Ethereum, making it more suitable for frequent small-value transfers. Ethereum remains stronger in DeFi innovation and security, but Tron leads in stablecoin throughput.
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Final Thoughts
Tron’s ascent as the top platform for USDT issuance marks a significant shift in the crypto ecosystem. With over $80 billion in USDT流通 on its network, Tron has proven its scalability and efficiency. Meanwhile, TRX shows early signs of technical strength despite broader market caution.
As user behavior evolves—favoring speed and flexibility over yield locking—the fundamentals supporting TRX grow stronger. Whether through increased transaction fees, staking participation, or governance involvement, TRX remains central to one of the most active blockchains in the world.
For investors and users alike, Tron represents not just a platform for stablecoins—but a vision of frictionless digital finance taking shape in real time.
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