On May 22nd, the issuance of USDT on the TRON network surpassed $77.7 billion, exceeding Ethereum in both total supply and circulation. This milestone established TRON as the world's largest stablecoin issuance network.
Stablecoins are not only a critical component of the cryptocurrency ecosystem but also play an increasingly important role in cross-border payments and traditional financial systems. TRON's ability to surpass Ethereum in stablecoin issuance highlights its technological maturity and growing dominance in decentralized finance (DeFi) and global payments.
Technical Strength Behind the Achievement
Efficiency and cost are two primary concerns for on-chain transactions. Efficiency refers to network speed and lack of congestion, while cost relates to transaction fees.
In terms of efficiency, TRON offers transaction confirmation times of just a few seconds and can process over 2,000 transactions per second (TPS), matching the throughput of the VISA payment system. In contrast, Ethereum's mainnet handles only around 30 TPS, leading to congestion during periods of high activity.
When it comes to cost, TRON maintains an average transaction fee below $1, with methods available to reduce it to as low as $0.2 or even eliminate it entirely. Fees on TRON are composed of bandwidth and energy. Users receive free bandwidth daily, and energy can be either purchased or rented—with rental costs being 80% cheaper. For frequent transfers, renting energy can bring per-transaction costs down to approximately $0.5, significantly lower than other public chains. Ethereum's gas fees, often exceeding $10–$20 per transfer, are nearly 100 times higher than TRON's.
Although Ethereum has been working on upgrades to address congestion and high costs, it has been outpaced by more efficient competitors like TRON.
In April 2025, TRON introduced its GasFree feature, eliminating the traditional concept of gas fees for on-chain transactions. Users no longer need TRX to transfer stablecoins—instead, they can pay fees in USDT. This innovation further reduces the barrier to entry for on-chain transactions and solidifies TRON's position as the leading stablecoin network.
Low cost, high efficiency, and GasFree functionality create ideal conditions for stablecoin growth. These advantages are the result of TRON's continuous technological evolution.
While TRON has often been perceived as strong in marketing, its technical upgrades have been substantial yet understated. A look back reveals that TRON's architecture has been the core engine of its success, with consistent and meaningful iterations.
TRON founder Justin Sun outlined a long-term vision in 2018 consisting of four phases: Exodus, Odyssey, GreatVoyage, and StarTrek. In 2021, TRON entered the GreatVoyage phase, with the latest version—GreatVoyage-v4.8.0 (Kant)—released in May 2025.
The Kant upgrade introduced innovations across three key areas, enhancing both efficiency and cost-effectiveness:
- Improved Storage Efficiency: EIP-1153 introduced transient storage, reducing smart contract execution costs by 35%.
- Cross-Chain Compatibility: Proto-danksharding (EIP-4844) enables asset interoperability between TRON and Ethereum Rollups, increasing cross-chain transaction processing to 1,500 TPS.
- Developer Experience: EIP-5656 optimized memory copying efficiency, shortening DApp deployment time by 50%.
Superior network performance serves as TRON's foundational strength, enabling a robust and growing ecosystem.
From Stablecoin Leader to Full-Scenario Financial Infrastructure
Beyond technological advancements, TRON's ecosystem has expanded rapidly. According to the 2024 TRON Annual Report by CryptoQuant, the total number of transactions on TRON increased from 129.8 million in February 2024 to 239.6 million in October—an 84% growth. The total number of transactions for 2024 reached 2.38 billion.
As of May 20, 2025, the TRON network hosted over 307 million accounts, a 40% increase from the previous year, with a total value locked (TVL) exceeding $23.6 billion.
A clear upward trend is visible in the transaction volume of TRC20-USDT, which processes up to $19 billion daily, driven by demand in emerging markets and remittances.
TRON's dominance in USDT—accounting for 98.5% of its network's stablecoins—also enhances liquidity for DeFi protocols. TVL tends to increase同步 with Tether's USDT issuance.
In Q1 2025, TRON gained significant traction in U.S. politics following the election of President Donald Trump. The Trump family project, World Liberty Financial (WLF), acquired TRX, and the USD1 stablecoin—supported by Trump-affiliated institutions—debuted on Huobi HTX. TRON founder Justin Sun was also invited to a dinner hosted by President Trump. These developments boosted TRON's global influence and provided strong brand endorsement for USDT's continued growth.
On the regulatory front, TRX has submitted an application for a spot ETF to the U.S. SEC. If approved, it would become the first cryptocurrency ETF to support staking. TRON is also collaborating with the Dominican government and Tether's T3 financial crime unit to develop an on-chain monitoring system compliant with FATF's Travel Rule, further extending its influence in finance.
Messari's annual report, "Crypto Thesis 2024," noted that TRON's well-developed infrastructure and commitment to cryptocurrency adoption position it as a key player in transforming global payment models.
Frequently Asked Questions
What makes TRON more efficient than Ethereum for USDT transactions?
TRON achieves higher efficiency through its high-throughput architecture, capable of processing over 2,000 transactions per second. Its consensus mechanism and network optimization significantly reduce confirmation times and eliminate congestion common on other networks.
How does TRON's GasFree feature work?
The GasFree feature allows users to pay transaction fees in USDT instead of TRX when transferring stablecoins. This simplifies the user experience and reduces dependency on holding native tokens for fee payments.
Is TRON compliant with international financial regulations?
Yes, TRON actively collaborates with regulators and governments, including the Dominican Republic, and follows FATF recommendations. It has implemented travel rule solutions and is pursuing ETF approvals to enhance its compliance profile.
What role does USDT play on the TRON network?
USDT serves as the primary stablecoin on TRON, facilitating low-cost remittances, DeFi operations, and cross-border transactions. Its dominance enhances liquidity and utility across the ecosystem.
Can TRON support other stablecoins besides USDT?
While USDT is the most widely used stablecoin on TRON, the network is compatible with other dollar-pegged and asset-backed tokens. Its infrastructure supports multi-currency stablecoin deployments.
What are the future developments expected for TRON?
TRON aims to become a global financial settlement layer through continued technical upgrades, regulatory engagement, and ecosystem expansion. Innovations in AI and cross-chain interoperability are also priorities.
Conclusion
TRON's rise as the leading stablecoin network is no accident. It results from synergistic growth between technology and ecosystem development. By leveraging stablecoins as a foundation, TRON has expanded into DeFi, cross-border payments, and compliant financial services. As Justin Sun stated, "TRON's goal is to become the core settlement layer for global financial transactions, providing efficient and low-cost financial services for institutions and individuals."
As regulatory frameworks evolve and technology advances, TRON is well-positioned to serve as a bridge between traditional finance and Web3. This vision could redefine how value is transferred globally, promoting a more efficient, transparent, and inclusive financial system.