Tether's USDT Hits the Roof: $156.1 Billion and Counting!

Holy moly, Tether's USDT just smashed through the ceiling, hitting a mind-blowing $156.1 billion in supply! And guess what? Most of these stablecoins are chilling on Tron and Ethereum, partying like there's no tomorrow.

Forget the buzz around Circle; Tether's still ruling the stablecoin kingdom. On Tuesday, June 24, USDT's supply skyrocketed to a jaw-dropping all-time high. And get this: a whopping 90% of that cash is hanging out on just two networks—Ethereum and Tron. Talk about a power duo!

Hold onto your hats, folks! More than half of USDT, that's 50.47%, is now cruising on Tron (TRX), while almost 40% are jamming with Ethereum (ETH). The rest? Less than 10% are spread across other blockchains like BNB Chain, Solana, Cosmos, Avalanche, and more. It's like a wild stablecoin fiesta out there!

Now, Circle's USDC is making waves on some of these smaller chains. Take Solana, for example—it's rocking nearly $7.5 billion in USDC compared to just $2.3 billion of USDT. But let's be real, USDT's still the kingpin, holding its ground like a boss.

Right now, USDT's got a whopping 62.10% of the stablecoin supply across all chains, while USDC's trailing behind with around 24%. But hold up—USDT took a little dip in dominance near the end of 2024 when the EU dropped the MiCA stablecoin regulations on their heads.

What's the Future for USDT?

Instead of playing nice with MiCA, Tether said "sayonara" and bounced out of the market. They axed their EURT stablecoin and got the boot from some major exchanges. But you know what? Tether's not backing down—they're sticking to their guns and not spilling the beans on full reserve transparency.

Watch out, though—the U.S. GENIUS Act might throw a wrench in Tether's plans, considering they're the big cheese in the market. But hold your horses—experts aren't betting on the GENIUS Act kicking Tether out of the U.S. just yet.

For now, Tether's setting its sights on Asia, where it's still the go-to for crypto payments—especially on the Tron network. So, buckle up, folks—it's gonna be a wild ride for Tether's USDT!