Block Signals · Jul 12, 2026

Nearly Half of All USDT Lives on Tron and Tether Is Moving Some Back to Bitcoin

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Tron holds about $87.7B of USDT, near 48% of the $184B supply, and Tether’s native Bitcoin issuance via RGB is a hedge against that concentration.

Tron holds about $87.7B of USDT, close to 48% of the roughly $184B in circulation, blockchain data showed as of early this month. That figure is why Tether is issuing USDT natively on Bitcoin again, via a protocol called RGB. Most coverage frames the move as USDT coming home to Bitcoin. The pressure behind the decision is where nearly half the supply cu…

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