Tron’s Tether USDt (USDT) circulation reached $94.25 billion by Nov. 3, up $1.9 billion from quarter-end, after the network ended September ahead of Ethereum in circulating USDT.
At third-quarter end, Ethereum’s USDT circulation totaled $86.69 billion; Tron’s was $92.35 billion. The networks’ ranking changed on July 23, and Tron kept the larger total through the quarter’s close.
On Oct. 19, DefiLlama data showed about $95 billion in stablecoin market capitalization across Tron, with USDT accounting for roughly 98%, according to an earlier EconoTimes report on the network’s stablecoin total. That reading covered all stablecoins on Tron rather than USDT alone.
