9-5-2025 – Tether’s USDT stablecoin has achieved remarkable growth across multiple blockchain networks, with its total circulation reaching $149.73 billion, according to the latest transparency report.
The dominance of two major blockchain platforms in hosting USDT has emerged as a striking feature, with Tron and Ethereum collectively managing nearly 97% of all Tether tokens in circulation. Tron has established itself as the preferred network, handling $73.06 billion of USDT, whilst Ethereum closely follows with $71.56 billion.
Emerging blockchain networks have also carved out their niches in the USDT ecosystem, albeit with more modest figures. Solana has secured a circulation of $1.92 billion, whilst TON and Avalanche maintain positions in the stablecoin market with $899 million and $833 million, respectively.
