The dominance of the Tron (TRX) stablecoin has reached a new high of 33.9%, largely due to the rising supply of Tether USDT, according to DeFiLlama data. The Tron stablecoin market is valued at $44.52 billion, with USDT accounting for 95% of the stablecoins on the network. Justin Sun's goal is to increase the Tron stablecoin market to $60 billion before the end of the year. Meanwhile, Ethereum remains the dominant blockchain for stablecoins, with a market cap of $70.97 billion. Tether's USDT has had a largely positive 2023, with its market cap rising 6.18% in the past month to $81.4 billion, and its dominance hitting 62.1%. 

(By Oluwapelumi Adejumo)

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