Ethereum has regained its dominance of the USDT market: for the first time since 2022/6, the Ethereum blockchain will host more stable coins than the Tron blockchain.
At the time of release, there were $66.936 billion in #Ethereum and $61.77 billion in #Tron in circulation. Since the beginning of the year, Ethereum's #USDT supply has increased by nearly 62%, while Tron has seen a more modest 24.4% increase over the same period.
the reversal came amid a surge in USDT mining activity last week.
The reason for the surge in USDT supply on Ethereum is that the market situation has become favorable for growth, as bitcoin has recently surpassed historical highs and revived interest from retailers and institutional investors.
This was facilitated by the growing expectations of approval of spot bitcoin ETF funds, which are widely seen as an opportunity to attract institutional capital. This backdrop creates a fertile ground for stable coins such as USDT, which are the foundation for liquidity trading and capital flows in the crypto ecosystem.
The continued appeal of Ethereum to issue USDT remains the main stable coin liquidity chain in the industry, despite its dominance in DeFi and institutional adoption.
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