According to Cointelegraph, Ethereum surpassed Tron to become the largest blockchain for Tether stablecoin after a 10% increase in USDT supply.
DefiLlama data shows that the USDT supply on Ethereum is $60.3 billion, while Tron is at $58.1 billion. Over the past week, Tron's USDT supply decreased by 1.5%, while Ethereum increased by 9.3%.
Ethereum and Tron hold 45.4% and 43.7% of the USDT market share, respectively. The total USDT supply reached $132.9 billion, setting a new historical high.
Ethereum regained the top position on November 21 and further expanded its lead on November 23, with Tether minting $2 billion USDT on Ethereum, compared to $1 billion on Tron.
BNB Chain, Arbitrum, and Avalanche rank among the top five with USDT supplies of $4.58 billion, $3.09 billion, and $1.31 billion, respectively.
USDT is the largest stablecoin in the world, with a market cap of $132.3 billion, followed by Circle's USDC, with a market cap of $39 billion.
