Stablecoin Supply Hits $70B on ETH and Tron as USDT, USDC Drive Market Recovery
supply across the and Tron ecosystems has reached a new all-time high, climbing above $70 billion according to the latest report.
This increase comes less than a year later than the market hit a two-year low in October 2023, when supply dropped to $32 billion. Since then, $38 billion has been added, marking one of the strongest rebounds in the market’s history.
At the time of writing, USDT and USDC dominate the market supply. USDT accounts for $53 billion, representing 77% of the market, while USDC holds $14 billion, capturing 20% of the share.
USDC’s growth remains a key highlight as it attracted the largest inflows in stablecoin supply, while USDT, the market-leading stablecoin, has continued to maintain steady trading volumes.
shows that between June 2023 and the present, USDC’s supply rose by 470%, significantly reshaping the stablecoin market dynamics.
The overall stablecoin market currently stands at $287 billion. USDT controls 58.98% of this total, and on September 5, the broader stablecoin supply briefly reached a record high of $288.22 billion.
Market Impact
The rising stablecoin supply is closely tied to increased on-chain and off-chain liquidity. The fact that most of this growth is concentrated on ETH and Tron suggests investors are directing more activity toward these ecosystems.
This trend indicates that TRC-20 and are set to benefit, as investors are likely to channel liquidity into assets tied to these networks.
Ether (ETH), the largest ERC-20 token, trades at $4,400 with a year-to-date gain of 93%, according to CoinMarketCap data at press time. TRON (TRX), valued at $0.43, has surged 126% year-to-date, showing that both ecosystems remain strong magnets for capital inflows.
Broader Market Sentiment and Implication
Altcoins also stand a strong chance of capturing higher liquidity inflows and are steadily gaining dominance.
CoinMarketCap shows that altcoin dominance holds at 65% with a market capitalization of $1.67 trillion, while BTC accounts for 35%.
A sustained rise in the altcoin index would reflect bullish momentum flowing into select tokens. The 90-day index highlights several top performers leading the market, including MYX Finance (MYX), MemeCore (M), OKB (OKB), Pudgy Penguin (PENGU), and Story (IP).
A broader surge in stablecoin supply would mean both BTC and altcoins could view amplified liquidity inflows, with some assets potentially setting new all-time highs.
