Tether from Tether confirmed again its dominance in the ecosystem for encryption, as the circulating offer increased to $ 156 billion, a record number, according to the Token Terminal on X.
While the USDT supplies are increasingly distributed across the multiple Blockchain networks, EVM giants are still calling for the lion’s share, as Tron tops more than $ 80 billion. Usdt supplies on the JUSTIN SUN network, linked to about $ 20 billion from year to date.
Ethereum holds the next part of the bulk of more than 71.54 billion dollars. Tron and Ethereum account for more than 90 % of the total USDT version.
Other fast -growing networks include Solana, Aptos and TON, and take advantage of USDT liquidity outside EVM chains.
The race for the excellence of stablecoin
The expanded access to USDT reflects its long attractiveness as a reliable slope of merchants and institutions. But in the background, intense competition with USDC from Circle, the second largest stablecoin according to the market share.
Since Usdt strengthens its progress, Circle has recently exceeded $ 61 billion in the offer, and it has approximately 24 % of the Stablecoin market.
Circle’s rise is not limited to Blockchain data. It also makes waves in Wall Street. Since June 5 of the General subscription, there is Circle (CRCL) More than 700 % roseThe maximum market setting is about 68 billion dollars, which indicates an increase in investor confidence.
However, one of the main investors, ARK Invest, Cathie Wood, began to trim positions, to become one of the first big players who jump from the euphoria of evaluation to profit.
A circle that fills the void in the form of a rope with a USDT exit from the European Union
In a move attributed to the strict markets of the European Union (European Union) in the MICA (MICA), Tetherintinitinive Eurt, supported by euro -backed Stablecooin, stopped in November 2024, which led to the cessation of new support for the European Union for the European Union for users. Tether has publicly criticized the intense compliance of Mica and Reserve as excessively “restricted”.
Many exchanges throughout the European Economic Zone have already installed their USDT pairs to comply with MICA, although the availability of custody and futures contracts remain in many cases.
To maintain a foothold in the European market, Tether invests in Mika control alternatives, which are Eurq and USDQ, which was built via the Hadron platform in partnership with Quantoz.
Meanwhile, Circle expands it Euro Stablecoin, EURC. The offer increased significantly in the past year from $ 78.4 million to $ 236.1 million, with about 80 % of this trading on ETHEREUM and Solana.
This confrontation highlights the USDT and USDC also stablecoins ripening in the global financial system. As of May 2025, Tether kept more than $ 120 billion in US Treasury bills, which is enough to suppress short -term revenues modestly.
Circle, on the other hand, is determined by the activity itself for the prevailing adoption through compliance, strong prices, and prominent profits supported by their return on reserves.
However, what appears to be an unbalanced bilateral race, may soon get the other serious competitors. Clarity of regulatory monuments such as genius and stable law, as well as other legislation in various stages in the House of Representatives and the Senate, has sparked the interest of large American banks and companies to explore their Stablecoins version to challenge the potential Higramah of the rope.
Cryptopolitan Academy: Tired of market fluctuations? Learn how Defi can help you build a fixed negative income. Score
