Tron Gains USDT Market Share After U.S. GENIUS Act Passage

• Tron now holds 51% of the global USDT supply after $1B minted post-GENIUS Act.
• US GENIUS Act boosts regulatory clarity, driving increased stablecoin issuance on Tron.
• TRX price rises 1.3% despite a market cap of $32B and $839M in daily trading volume.

The recent passage of the GENIUS Act by the U.S. Congress has impacted the stablecoin market, boosting Tron’s share of Tether’s (USDT) circulating supply. This federal legislation sets out the first comprehensive regulatory framework for payment stablecoins in the U.S., emphasizing consumer protection, financial stability, and anti-money laundering compliance.

Following the law’s enactment on July 18, 2025, Tron produced an additional $1 billion worth of USDT. This surge raised Tron’s total USDT circulation to over $83 billion, accounting for approximately 51% of the global USDT supply of $163 billion.

The GENIUS Act clarifies the legal status of dollar-backed digital assets in the United States. By setting a regulatory baseline, the law has enabled increased confidence among market participants, opening the way for further stablecoin issuance.

The law’s focus on regulatory compliance appears to have encouraged institutions and users to increase activity within tokenized dollar markets. The resulting growth in USDT issuance on Tron reflects both increased demand and the blockchain’s ability to handle stablecoin transactions efficiently.

Tron’s USDT Circulating Supply Growth

Historical data shows Tron’s USDT supply has grown since mid-2019. Initial circulation was minimal, but by early 2021, Tron hosted over $20 billion in USDT. Growth accelerated through 2021 and 2022, reaching about $50 billion by mid-2022. After a period of slower growth and fluctuation, the circulating supply on Tron continued to rise, exceeding $60 billion by mid-2024.

From late 2024 to mid-2025, the supply saw an increase, jumping from $65 billion to above $80 billion. This surge aligns with the legislative move represented by the GENIUS Act and reflects the broader adoption of stablecoins within decentralized finance (DeFi), trading, and remittance applications.

Market Performance and Network Metrics

As of press time, Tron’s native token (TRX) traded at $0.3386, marking a 1.3% increase over the previous 24 hours. The token showed a stable price trend, with daily lows near $0.3347 and intraday peaks above $0.34.

Tron had a higher unlocked market cap of $33.86 billion, compared to its unlocked market cap of $32.06 billion. TRX token s’ circulating supply and total supply were both recorded as 94.7 billion, in line with the Tron inflationary token structure with no supply cap. The number of trades within the last 24 hours reduced by almost 16%, reaching around $839.31 million.