Stablecoin demand soars amid U.S. economic slowdown – Details
Journalist
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Key takeaways
Stablecoins are surging once more as uncertainty pushes extra capital onto exchanges. Ethereum now dominates stablecoin settlement, whereas Tron stays the go-to for quick, low-cost funds.
Stablecoins are within the highlight. As financial strain builds and merchants search for security, these digital {dollars} are piling up on exchanges at document tempo.
The newest is a fast have a look at how international uncertainty is deciding the place cash flows subsequent.
The market is prepared
Stablecoins are moving in waves.
The primary surge got here in late 2024 when unemployment cracks began displaying; alternate reserves shot from about $30 billion to over $50 billion nearly in a single day, whereas deposit exercise spiked alongside.
Supply: CryptoQuant
Quick-forward to mid-2025, and we’ve a repeat within the sample.
Stablecoin reserves simply touched $58.5 billion, whereas the variety of depositing addresses now repeatedly tops 30,000, even hitting near 40,000 at peaks.
Supply: CryptoQuant
In time, this might stream into Bitcoin [BTC] and different threat property on the proper second.
Ethereum leads, however Tron nonetheless owns funds
For years, Ethereum [ETH] set the usual for stablecoin exercise, with practically all main tokens transferring on ERC-20 till mid-2019.
That modified when Tron [TRX] entered the market with a easy pitch: quicker transactions and decrease charges.
Its attraction for small, on a regular basis funds helped Tron steadily develop, peaking in Could 2023 at a powerful 74% share of all stablecoin exercise.
Supply: Cryptoquant
Since then, the balance has shifted backwards and forwards, with Tron’s market share fluctuating between 13% and 67%.
As of September 2025, Ethereum has regained practically 70% of the market, whereas Tron holds about 30%. The divide reveals the alternative ways wherein stablecoins are getting used.
Supply: X
Ethereum has grow to be the settlement layer for deep liquidity and institutional flows, whereas Tron now powers the majority of retail-style transfers.
And with stablecoin supply at record highs (dominated solely by USD-backed tokens) it’s clear that blockchains are actually appearing as international distribution rails for the greenback itself.
