Tron Stablecoin Market Capitalization Crosses $40B, Justin Sun Eyes $60B

Tron’s stablecoin market capitalization has grown by more than 8% in the last seven days, crossing the $40 billion mark, according to DeFillama data.

Over the past week, the Tron network witnessed a massive inflow of more than $1 billion on March 12 and $917.49 million on March 17, according to DeFillama data.

Tether USDT Dominates TRON

Tether USDT dominates 94.36% of the total stablecoins on Tron. USDT has a market cap of 39.26 billion after increasing by 8.26% in the past 30 days.

The high-flying TrueUSD (TUSD) stablecoin has grown its supply massively during the past week. According to DeFillama data, TUSD supply increased by 118% to $1.31 billion — making it the second-largest stablecoin on the network.

Meanwhile, TUSD’s total stablecoin supply recently crossed the $2 billion mark. The stablecoin is one of the biggest gainers from the recent issues plaguing rivals like Binance USD (BUSD) and USD Coin (USDC).

The Tron-based algorithmic stablecoin USDD is the third prominent stablecoin on the network. USDD has a market cap of $534.01 million after rising by 5% in the past month.

On the other hand, USDC’s recent depeg significantly affected its supply on the Tron network. The Circle-issued stablecoin declined roughly 60% in the last 30 days to $440.5 million. Other stablecoins on the network include USDJ and HUSD.