The USDT supply on the Ethereum network recently reached 66.936 billion, surpassing the Tron network's 61.77 billion for the first time, marking the first reversal since June 2022. Since the beginning of this year, the USDT supply on the Ethereum network has grown by nearly 62%, while the growth rate for the Tron network is 24.4%.

Analysts believe that the surge in Ethereum's USDT supply is closely related to Bitcoin's price breaking historical highs, with improved market sentiment and the expectation of approval for a spot Bitcoin ETF attracting more institutional funds. As the leading chain in decentralized finance (DeFi), Ethereum shows significant advantages in institutional adoption and stablecoin liquidity.

Meanwhile, the Tron network continues to maintain competitiveness in the cross-border payment sector thanks to its low fees and high speed. The advantages of the two networks in different fields make market competition more intense, and future market trends are worth paying attention to.