Ethereum has become the largest blockchain for Tether

Ethereum has regained its leadership among blockchains by Tether stablecoin volume. Over the past week, the supply of USDT on Ethereum increased by 10%, reaching $60.3 billion.

In comparison, Tron retained $58.1 billion, making Ethereum the largest blockchain for USDT.

Supply dynamics

Data shows that over the week, the supply of USDT on Tron decreased by 1.5%, while on Ethereum, it grew by 9.3%. This allowed Ethereum to surpass Tron in leadership for the first time since August 2022.

The total supply of USDT has now reached an all-time high of $132.9 billion, indicating increased liquidity and activity in the cryptocurrency ecosystem.

Additional USDT issuance

On November 21, Ethereum officially reclaimed the top spot. This position was reinforced on November 23, when Tether issued an additional $2 billion USDT on Ethereum compared to $1 billion on Tron.

Top five blockchains

BNB Chain, Arbitrum, and Avalanche rank next by USDT volume, with figures of $4.58 billion, $3.09 billion, and $1.31 billion, respectively.

As of today, Tether (USDT) remains the largest stablecoin in the world with a market capitalization of $132.6 billion. USDC ranks second with a capitalization of $38.6 billion.