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TRON Breaks Records with $694B USDT Transfers: What’s Driving Its Crypto Dominance?

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  • TRON sets new USDT transfer record with $694.54B in May, leading stablecoin adoption in the crypto world.
  • Whale transactions over $1M make up 59% of May’s volume, highlighting TRON’s appeal to large investors.
  • TRC-20 USDT surpasses $75.7B, leading stablecoin holdings across blockchains, ahead of Ethereum’s ERC-20 USDT.

TRON has reached an impressive milestone, breaking a huge record within the stablecoin market. The highest amount of USDT transfers ever recorded on the blockchain network was in May, at $694.54 billion. An analyst at CryptoQuant highlighted that this is a new record that indicates the rising dominance of TRON in the crypto world. With the USDT and other stablecoins remaining a significant force in pushing the adoption of cryptocurrencies, the success of TRON can be highlighted as one of the biggest factors influencing this phenomenon.

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Source: X

The high-value transactions contributed a large part of the volume. Almost 59% of all the transfers that occurred in May were above $1 million. That is equivalent to roughly $411.2 billion in whale transactions alone. These whale transfers are an indicator that large investors are still flooding into TRON, making it one of the preferred platforms when it comes to high-value transactions.

TRON Dominates Stablecoin Market

Currently, TRON has more than $75.7 billion of USDT (TRC-20), which exceeds the amounts held by other blockchain networks. ERC-20 USDT on Ethereum is $71.4 billion. The market share of TRON in stablecoins makes it a leader in crypto infrastructure and adoption.

In the first half of 2025, 17 million USDT on the platform exceeded the mark of $1 billion. This rate is considerable and indicates the tendency towards further inflow of liquidity into the platform. TRON is poised to strengthen its position as the leader in the stablecoin market even further, with additional mints likely to occur over the year.

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Expanding Market Presence

Moreover, the transaction volume of the platform has soared. More than 10.5 billion transactions have been carried out on the network to date, a sure sign of increased usage and adoption. The network has been able to support a growing demand as more users rely on TRON to transfer stablecoins. This increase in on-chain activity shows the capability of the platform to scale and its high performance during such times.

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As it continues to expand and dominate, the platform is establishing itself as a key player in the dynamic cryptocurrency ecosystem. With the growing involvement of stablecoins, such as USDT, in the overall cryptocurrency environment, the history-making success of the platform indicates that the project has a bright future. The network will grow faster, and larger transfers and mints will lead to further adoption.

Related Reading: Circle’s USDC Now Live on XRPL: Instant Stablecoin Access Without Bridging

Stripe Just Acquired Privy: Is This the Future of Digital Payments?

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  • Stripe acquires Privy to expand crypto wallet infrastructure and strengthen Web3 payment tools.
  • Privy enables secure, scalable digital asset transactions for millions across the blockchain ecosystem.
  • A full-stack crypto payment system emerges after Stripe’s Privy and Bridge acquisitions.

Stripe has taken a significant step into the Web3 and digital asset world by acquiring Privy, a major provider of crypto wallet infrastructure. According to the analytical platform Santiment, social media activity surrounding this news has increased significantly, highlighting its growing relevance in the crypto community. The acquisition is part of Stripe’s cryptocurrency strategy to build out wallet infrastructure in conjunction with its payment and compliance products.

Privy is the crucial component of the blockchain ecosystem, which scales to millions of user accounts and ensures the safe and smooth transactions of digital assets. Through the acquisition, Stripe gets access to a widely developed wallet infrastructure that will supplement its aim of providing more powerful crypto payment services. Stripe is looking to help developers and businesses offer their users a frictionless way to enter Web3 environments by integrating compliance tools with easy-to-use wallet services.

The acquisition is one after Stripe previously acquired Bridge, a stablecoin infrastructure company. Collectively, these acquisitions demonstrate that Stripe is doubling down on providing a full-stack crypto payment stack that will match the expectations of modern financial technology. The company is establishing itself as a key player in the next chapter of digital commerce, in which stablecoins and crypto wallets will have a larger role.

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Source: X

Stripe Tracks Ethereum Momentum

Meanwhile, general discourses concerning Ethereum continue to dominate various platforms. Reddit users are discussing the staking model and ecosystem improvements in Ethereum, as well as its growing use in DeFi and NFTs. The hype around new token projects in Telegram groups, including the Ethereum-based $BABYZEUS, is driving excitement around Ethereum-related projects. The attention of analysts and traders has been drawn to the price action of Ethereum, the use of derivatives, and the rising institutional investment in ETH as a digital asset.

The recent U.S. Consumer Price Index (CPI) data is also gaining momentum as it has an impact on both conventional and crypto markets. As inflation came in at 2.4 percent, a little bit lower than expected, financial analysts are considering the future decisions of the Federal Reserve. The decreasing inflation rates have revived the crypto asset interest as inflation-hedged assets, particularly Bitcoin and Nano.

Nano still draws attention through its fee-less and instant transactions and environmentally sustainable blockchain. But they are not widely used yet because there are technical barriers and no marketing. Nevertheless, future adoption and visibility could be boosted by the creation of tools such as NanoGPT.

Related Reading: PayPal Upgrades PYUSD with Stellar for Global Payment Expansion

TRON Sets New USDT Stablecoin Transfer Record at $691B

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  • TRON has reached a USDT transfer volume of $691B, dominating the stablecoin transfer volume globally.
  • In May, 27 whale wallets transferred $411B USDT in only 491 transactions.
  • TRON dominates the USDT supply, leaving Ethereum and other blockchain networks far behind.

TRON network has broken a record in USDT transactions after hitting a figure of $691 billion. This record shows the rise of stablecoins and USDT in particular, which is spearheading the trend of crypto adoption. The network is currently processing the highest number of USDT transactions relative to other blockchain platforms.

Whales’ USDT Transactions Soar on TRON

This update is via a post by Maarten, a prominent CryptoQuant analyst, who posted detailed charts from CryptoQuant displaying the influx in activity. One graph monitors the number of interactions per month and the value transferred when using USDT on TRON, showing a high of $694.5 billion in May and a minor decline in June.

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Source: X (@JA_Maartun)

It represents a particularly active time in terms of trading and transfers, with $411 billion of that amount belonging to large investors, so-called whales. A lot of this activity is being facilitated by these large actors.

27 whales facilitated more than half of the USDT volume on TRON in May, summing up to $411.2 billion across only 491 transactions.

The other chart displays the bigger picture of the transaction count of TRON over the years which is a gradual increase since 2018 to 2025. More than 10.5 billion transactions have been executed on the network. This figure is constantly increasing, in particular, with rising utilization of USDT.

TRON Leads in Stablecoin Dominance

Stablecoins, such as USDT, are playing a crucial role in cryptocurrency use by providing stability during fluctuations in the market. The success of TRON can also be confirmed by market capitalization: the network has the largest amount of this stablecoin in all chains at 75.7 billion USDT.

For comparison, it has $71.4 billion on Ethereum and $54.1 billion on other chains, as recent data shows. There have been also 17 mints of over $1 billion of USDT on the network this year, and that momentum is accelerating, since we are just halfway through 2025.

This increase is the indicator of a change in the use of crypto.

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Source: X (@JA_Maartun)

Related Reading |  XRP to Disrupt Global Finance Taking 14% of SWIFT Market by 2030

South Korea Sees $40.6B in Crypto Outflows as Stablecoins Lead the Way

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  • South Korea saw $40.6 billion in crypto outflows in Q1, with stablecoins making up 47.3% of the total.
  • Stablecoins like Tether and USD Coin led South Korea’s $40.6B crypto outflows to international exchanges.
  • Despite the rising adoption, March saw a slight dip in stablecoin outflows as global crypto markets cooled.

South Korea suffered substantial cryptocurrency outflows in Q1, with approximately 57 trillion won (almost $40.6 billion) leaving the country. Almost half of these outflows, or a sizable fraction of them, comprised stablecoins, which indicated a further trend of users that were shifting their funds to offshore crypto exchanges. According to the data provided by Democratic Party member and lawmaker Min Byung-duk, the Financial Supervisory Service said stablecoins such as Tether (USDT) and USD Coin (USDC) accounted for 47.3% of the total outflow.

South Korea’s Crypto Outflows in Q1

During the period of January to March, 56.8 trillion won of cryptocurrencies were moved from South Korea’s five big digital asset exchanges (Upbit, Bithumb, Coinone, Cobbit, Gopax) to the global markets. Of the total, 26.87 trillion won of this money was in the stablecoins, which is a testament to the increasing role such an asset plays in worldwide cryptocurrency trades. 

Stablecoins are frequently utilized on international platforms such as Binance and Bybit for trading as well as buying digital assets. This makes stablecoins an ideal option to conduct international transfers.

While the report indicated a trend toward stablecoin transfers, a minor decline of the process was recorded in March. With the global market going cold and trading volume on foreign exchanges plummeting, the outflows were reduced. This change emphasizes the influence that broader market conditions exert on the way users act, with traders adapting to market volatility more and more.

Rising Crypto Adoption in South Korea

South Korea is still experiencing enhanced adoption of the digital assets. In February 2024, there were 16.29 million South Koreans with digital assets accounts (around 32% of the entire population in the country). Parallels are drawn to a rising level of mainstream engagement with digital assets, while both retail and institutional investors are interested. The figures are reflective of the user accounts from South Korea’s leading exchanges and reflect uniform growth in the sector.

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The popularity of digital adoption is not confined to being practiced by private individuals; digital assets are also being made increasingly involved by public officials. Only 411 out of 2,047 public officials who filed asset declarations that year claimed that they held cryptocurrency-related assets. These officials enjoy high posts such as: the secretary general of the Labor-Management Development Foundation, president of the Korean National Police University, and vice-president of the Korea Water Resources Corporation.

Read More: Toncoin (TON) at a Crossroad: Will $2.50 Support Trigger the Next Big Move?

Survey: 50% of Singapore’s Crypto Users adopt it for Payments Instead of Investing

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  • Now, more than half of the people who use crypto in Singapore are using it for everyday payments, not just as an investment.
  • Singapore’s practical crypto adoption is being driven by the younger generations for online use like shopping and paying bills.
  • In Q2 2024, Singapore witnessed  a full bloom of its crypto payment landscape, with over $1 billion achieved in merchant transactions alone.

In Singapore, there’s been a surge in the use of cryptocurrency. Interestingly, the majority of the people holding cryptocurrency use it to pay for everyday purchases. According to the Singapore-based crypto payment firm, Triple-A’s finding, the country’s crypto ownership number increased to 26% compared to 24.4% a year earlier.

This adoption is especially strong among younger generations, with around 40% of people aged between 16 and 44 claiming to own cryptocurrencies.

How Singaporeans Are Using Crypto in Daily Life

About 52% of all crypto holders have been using digital assets to pay for goods and services, and 67% plan to increase their usage. They are leading the charge in using crypto for financial settlements—online shopping (41.1%), paying bills (35.9%), and in stores (27%).

On the other hand, most users aged 45 and above are using crypto differently; 42.9%  use it to send money to friends and family. Of course, they also shop online with it (35.7%) and make bill payments (17.2%).


Singapore’s Expanding Crypto Payment Landscape

A total of US$1 billion worth of crypto payments was made to merchants in the second quarter of 2024 alone, surpassing payment volumes seen in the first quarter of this year and any other quarter in the past two years, as reported by blockchain analysis firm Chainalysis.

Merchant adoption is growing, and regulatory clarity is also improving. This proves that the authorities are indeed the supporting engine of growth for this sector, setting Singapore on its way to becoming a global hub for digital assets.

A number of companies have begun incorporating crypto into their payment systems. Fashion brand Charles & Keith and Apple product reseller iStudio are among the retailers accepting crypto payments through the Triple-A platform.

Stablecoins (USDT and USDC) are now being accepted at local firm DTCPAY in partnership with the popular departmental store Metro, in both their online and in-store locations. Another store, AXS has also teamed with Triple-A and allows users to top up as well as pay bills through popular cryptocurrencies like Bitcoin, Ethereum, USDC, and Tether.

Robinhood Adds Floki in Europe, Pushing Meme Coins into the Mainstream

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  • This marks a significant milestone in Robinhood’s European crypto expansion and boosts Floki’s accessibility to a wider audience.
  • With projects like FlokiFi and the Valhalla metaverse, Floki is gaining credibility as a utility-driven cryptocurrency backed by strong community support.
  • The move aligns with MiCA regulations and underscores Robinhood’s role in democratizing access to crypto, even in the meme coin space.

On April 4, 2025, the meme-inspired cryptocurrency Floki (FLOKI) is officially live now on Robinhood’s European platform; users now have access to buy, sell, and trade FLOKI. It is another step by Robinhood into Europe, which started offering crypto services to European users in 2023.

Following Robinhood’s EU expansion, it adds Floki to a list of over 20 cryptocurrencies, such as Bitcoin, Ethereum, and Solana, available for trading on the service. In October 2024, Robinhood also added crypto transfers to its platform, making it seamless for users to deposit and withdraw crypto.

Robinhood also expanded its crypto services to Spain by January 2025, where it became available to Spanish users for trading, staking, and investing in a range of digital currencies.

Floki Gains Popularity Through Community Support

Coming from the humorous branding and dedicated community since its creation in 2021, Floki has also had a huge surge in popularity. Originally, Floki was a meme coin that has grown a lot over time; instead of sitting around, it has utility through its projects such as FlokiFi, which is a suite of decentralized finance tools, and Valhalla, which is a gaming metaverse centered around NFTs. The coin has also been recognized for its philanthropic initiatives.

The Floki Inu ranked in the top 10 meme coins by market caps and topped $0.0003462 in June 2024. Its progression from joke token to a more versatile cryptocurrency bodes well for it as a credible addition to Robinhood’s European portfolio, whereby the growth of meme coins is joining up with a rise in the availability of digital assets across mainstream platforms.

The addition of Floki on Robinhood’s European platform is another testament to the trend of making cryptocurrency investment available to the people at large. Robinhood shows its commitment to opening up finance to everyone else by offering Floki to the European investors, adding to the institutional credibility of the meme coin space.

Floki Listing Reflects Global Financial Inclusion

There has been a clear and favorable regulatory environment for the likes of Robinhood within the European Union’s Markets in Crypto-Assets (MiCA) regulation. The framework offered by MiCA is a safe environment for both investors and the companies in the space, providing the right degree of innovation in an environment of risk and market volatility while addressing some of these concerns.

Reflecting a larger trend within the cryptocurrency circle, its metamorphosis from a meme coin to a utility-driven project is quite an intriguing trend. In addition, new tokens want to show that they have a real-world use case and a good collaboration. This is a sign that the meme coin market has matured beyond the area of speculation to meaningful contributions to the crypto world.

First of all, the presence of Floki on Robinhood means meme coins are becoming more influential, which is not something to laugh at; secondly, it reflects the fact that this network of robinhood appreciates such that it is using its resources to make financial markets more global and inclusive.

The addition of Floki is expected to ensure Robinhood’s cryptocurrency offerings continue to grow in Europe and bring the adoption of digital currencies closer to millions of potential investors upon it.

Alabama Moves Toward Bitcoin Investment with New Bill

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  • A new bill (HB482) has been introduced by the Alabama House of Representatives to create a new approach for the state’s investment strategy to include Bitcoin as well as other digital assets.
  • There is support for House Bill 482 in the state from the Republicans and Democrats, as the bill seeks to incorporate digital asset investments into the state’s economic plan.
  • If passed into law, this legislation could put Alabama at the forefront of cryptocurrency adoption.

On March 31st, 2025, House Bill 482 (HB482) was introduced in The Alabama House of Representatives. HB482 is an important legislation that would let The Alabama State Treasurer spend the money of Alabama in digital assets such as Bitcoin.

According to the bill, the State Treasurer cannot invest more than 10 percent of the fund balance in digital assets only if such assets meet specific criteria. For instance, such investments can be made only through exchange-traded products (ETFs) or digital assets, which, for the past year, have an average market value of at least $750 billion.

These assets will remain within government control and kept highly secured by them.  In addition, the assets need to be spread in different secured places to ensure that there are no cyber threats to them. 

The bill also requires that risks are assessed and that all regulations are followed on a regular basis to ensure optimal security of these assets.

Alabama’s Crypto Decision: What This Means for Bitcoin and the Crypto Industry

HB482 would go into effect on October 1, 2025, affording the state time to establish the necessary regulatory and investment tools to purchase Bitcoin and possibly other digital assets. The bill will be reviewed by the House Ways and Means General Fund Committee before it advances. 

Policymakers, financial experts, and the public will be keenly interested in how Alabama integrates Bitcoin and other cryptocurrencies into its financial sphere. Even though US states like Pennsylvania, Wyoming, and Montana have suspended or halted their Bitcoin plans, Alabama, South Carolina, Oklahoma, Utah, Arizona, and Minnesota are taking advanced steps towards their Bitcoin investment plans. 

Tariffs vs. Crypto: Balaji Says Smart Contracts Will Win

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  • Former A16Z investor Balaji Srinivasan says tariffs could hurt the U.S. economy but drive global adoption of crypto.
  • Smart contracts may soon replace cross-border agreements as trust in traditional economic policies erodes.
  • The shift from fiat to crypto is accelerating as economic uncertainty pushes capital into decentralized systems.

U.S. tariffs are back in the limelight but Balaji Srinivasan, former A16Z investor and crypto advocate, believes they could weaken the economy but could accelerate global crypto adoption by pushing more financial activity on-chain. With rising nationalism and economic protectionism, global capitalism will transition to decentralized, trustless smart contracts, making crypto the ultimate winner.

Srinivasan explained that tariffs trigger price rise faster than production can recover, and reshoring industries is significantly harder than building them from scratch. Meanwhile, the U.S. continues to profit from money money-printing business, making domestic manufacturing far less attractive.

Tariffs
Tariffs vs. Crypto: Balaji Says Smart Contracts Will Win 9

However, the real beneficiaries of rising tariffs may not be domestic industries but the crypto sector. Srinivasan believes that as trust in traditional economic policies declines, businesses and investors will look to blockchain-based solutions for cross-border transactions.

“Because internationalist capitalism will move onchain, even as nationalism and socialism gain ground offline. Because the only truly binding cross-border contracts will soon be smart contracts. And because you might not be able to trust a country’s economic promises, but you can trust cryptography’s mathematical guarantees,” he stated, emphasizing how decentralization provides mathematical guarantees that traditional economies cannot.

Code vs. Tariffs: Balaji’s Bold Prediction Comes True?

The argument aligns with predictions made in 2021 when Srinivasan forecasted a shift toward a code-based financial order. He reiterated that while tariffs historically coincided with U.S. industrial expansion, they are unlikely to reverse economic decline. “If the U.S. can print a dollar with 100% margin, why sell a screw for 1% margin, even with a tariff?” he questioned.

While some users pushed back, questioning whether tariffs could ultimately benefit the U.S., Srinivasan remained firm. He acknowledged both sides of the debate but argued that the real shift is happening on-chain. As fiat-based economies struggle with inflation and protectionist policies, the crypto sector is poised to absorb capital fleeing traditional financial systems.

Balaji’s statement comes as Trump unleashed tariff bombshell—25% on Canada and Mexico—sparked a crypto meltdown, wiping out over $110 billion from the market. Bitcoin slid below $89K, and altcoins crashed, as trade war fears rattled investors.

With the rise of decentralized finance (DeFi) and the ability to trade assets trustlessly, Srinivasan’s warning make sense—moving away from traditional economies and securing their wealth in crypto.

Brazil Approves World’s First XRP Spot ETF, Boosting Crypto Adoption

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  • Brazil becomes the first country to approve an XRP spot ETF, boosting crypto investment.
  • XRP’s market cap reaches $152.96 billion, securing its position as the third-largest crypto.
  • Hashdex’s XRP ETF approval marks a major milestone for Brazil’s crypto market expansion.

Brazilian Securities and Exchange Commission (CVM) has authorized the launch of the nation’s first XRP exchange-traded fund (ETF). Brazil and the cryptocurrency sector achieved a major breakthrough with the CVM approval, which enabled Hashdex to launch the world’s first spot XRP ETF. Although the Brazilian Stock Exchange (B3) has not yet determined the launch date Hashdex stated it will share more information about this release soon.

Brazil’s Growing Commitment to Cryptocurrency Markets

The country shows leading innovation in cryptocurrency adoption which establishes it as the top crypto market leader in Latin America’s financial sector. The cryptocurrency market in Brazil handled transactions amounting to $90.3 billion between July 2023 and June 2024 to secure its position as the second-largest in Latin America. The massive population of the country, which exceeds 200 million, creates an ideal situation for cryptocurrency investments with a special focus on ETFs.

An ETF based on XRP is an ideal fit due to XRP’s utility in the real world. Its institutional demand and established market cap have made it the top choice for investors seeking exposure to digital assets without dealing with the complexities associated with direct ownership. Ripple’s managing director for Latin America, Silvio Pegado, noted that the approval of this ETF could also help the country reinforce its vision of being a country open to crypto innovation and contribute to the country being a pioneer of crypto innovation that can help shape a larger world.

Global Expansion of XRP ETFs

The approval of Hashdex’s XRP ETF in Brazil has caught the attention of the global markets, specifically the US, as multiple companies have filed for similar ETFs. Among the latter are XRP ETF applications from CoinShares, Bitwise, and 21Shares, which have been acknowledged by the U.S. Securities and Exchange Commission (SEC). The development of these XRP based investment products shows that more people are interested in investment products connected to XRP across the world.

However, Brazil is ahead of other jurisdictions as it has already approved the spot XRP ETF allowing investors to acquire a regulated investment product linked to a cryptocurrency. The aim is to empower retail and institutional investors with crypto exposure in Brazil and boost the main liquidity of XRP. Additionally, this could help propel the adoption of XRP in other regions where cryptocurrency has been embraced for cross-border payments for instance, through Ripple’s wide network.

Purpose Investments Proposes First Canadian Spot XRP ETF Amid Rising Crypto Adoption

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  • Purpose Investments files for Canada’s first spot XRP ETF, targeting long-term capital growth.
  • XRP ETF filing follows Purpose’s successful launches of Bitcoin and Ethereum ETFs in 2021.
  • Canadian regulators known for fast-tracking crypto ETFs, boosting Purpose’s chances for a quick approval.

Purpose Investments, a Canada-based investment company with more than 23 billion in AUM, has filed a preliminary prospectus for a potential spot Ripple (XRP) exchange-traded fund (ETF). The company wants investors to gain exposure to XRP over time while benefiting from the rising acceptance of Ripple among institutions.

This new approach comes after Purpose Investments established the world’s first Bitcoin and Ethereum ETF in 2021. This firm has been at the forefront of providing cryptocurrency investment products and is now venturing to launch the Purpose Ripple ETF. The fund expects to invest most of its holdings in long-term XRP investments to achieve capital appreciation.

Growth of XRP and Institutional Interest

The latest Purpose Ripple ETF comes when XRP is experiencing continuous integration into the crypto and financial sectors. According to Som Seif, the CEO of Purpose Investments, more institutions are buying XRP as it continues to find new applications. According to Seif, the Purpose Ripple ETF is a familiar and transparent way for investors to invest in XRP within the regulated framework. This strategy fits well into the current trend of large investors looking for standard and legal ways of investing in cryptocurrencies.

The token has created much hype due to its application in cross-border payments and its adoption by top institutions. Purpose Investments is optimistic that its increasing use will help meet the demand for more accessible investment products tied to XRP.

Regulatory Approval and Market Impact

Notably, Investments submitted the initial paperwork with the Canadian authorities, which was necessary to gain approval to launch the world’s first ETF linked to XRP. Canadian regulators are seen as more inclined to approve crypto ETFs than the ones in the United States. This regulatory advantage puts its Investments in a unique position to introduce the XRP ETF before applications have been introduced by other asset managers in the United States, such as Grayscale and Bitwise, who are still awaiting approval by the U.S. Securities and Exchange Commission.

These experiences show that the firm can operate in the relevant environment and attract investors to its cryptocurrency-based financial products, such as the Bitcoin and Ethereum ETFs. If passed, the Ripple ETF will represent a major step for the company as it aims to launch regulated investment products that will give access to digital assets and blockchain.

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