Surge in Stablecoin Minting: $USDT & $USDC on the Rise

• Tether minted 1B $USDT on Tron, and Circle minted 250M $USDC on Solana.
• Since 2025, $3B USDT was minted on Tron, and $7.75B USDC on Solana.
• Direct minting of stablecoins on Ethereum has been minimal.

The stablecoin Market has seen another significant surge, with over $1.25 billion in $USDT and $USDC minted in the past 11 hours. Tether issued 1 billion $USDT on the Tron Blockchain , while Circle minted 250 million $USDC on Solana. These trends indicate a growing preference for high-speed, low-cost networks over Ethereum for stablecoin transactions.

Tron Solana Take the Lead

Since the beginning of 2025, Tether has minted 3 billion $USDT exclusively on the Tron network. Meanwhile, Circle has significantly expanded its supply of $USDC, issuing a massive 7.75 billion tokens on Solana. This pattern highlights the increasing dominance of these blockchains in the stablecoin ecosystem, offering faster and more affordable transactions than Ethereum.

More stablecoins (USDT USDC) were minted in the past 11 hours, including 1B $USDT on #Tron and 250M $USDC on #Solana !

Since the start of 2025, #Tether has minted 3B $USDT on Tron, while #Circle has minted 7.75B $USDC on Solana. Notably, direct minting on Ethereum has been… https://t.co/6N6Iv5sJoi pic.twitter.com/DGHWd5u5Yt

— Spot On Chain (@spotonchain) February 19, 2025

Ethereum’s Declining Role in Stablecoin Minting

Notably, the recent wave of stablecoin minting has largely bypassed Ethereum. Once the primary hub for stablecoin issuance, Ethereum is now facing stiff competition from alternative networks that offer better scalability and lower transaction fees. While Ethereum remains crucial for Defi applications, the shift in stablecoin minting suggests that institutional issuers are favoring more efficient chains for direct token issuance.