Tether’s USDT Dominates: 40% of All On-Chain Fees Across 9 Blockchains Now Captured
Tether’s USDT isn’t just leading—it’s devouring the competition. The stablecoin now accounts for a staggering 40% of all on-chain fees across nine major blockchain networks. That’s not adoption; that’s a monopoly in the making.
How did a digital dollar clone become the tollbooth king of crypto? Simple: everyone uses it, even if they won’t admit it at parties. Traders, institutions, and yes—even your ‘decentralized’ DeFi protocol—all funnel fees into USDT’s growing empire.
Meanwhile, other chains scramble for scraps. Ethereum’s gas wars? Solana’s speed race? Forget it. When nearly half the fees flow to one asset, the ‘multi-chain future’ starts looking like a single-chain reality—with Tether holding the leash.
Cynical finance jab: Congrats, crypto. You’ve reinvented rent-seeking—but with more memes.
Tether’s USDT Percentage of On-Chain Fees (Source: Ardoino)
Ardoino pointed out that USDT has become a financial lifeline in many emerging economies.
According to him, millions of users rely on the stablecoin daily to protect their wealth from inflation and volatile national currencies.
Considering this, Ardoino claimed that blockchains offering low transaction fees and native support for USDT are likely to lead the next phase of digital payments.
He also suggested that these networks’ affordability, speed, and stability will be key factors for crypto mass adoption, particularly in regions where traditional banking infrastructure is either weak or inaccessible.
USDT remains the leading stablecoin in the crypto market, commanding 61% of the total stablecoin supply. Its circulating supply now exceeds $163 billion, based on data from CryptoSlate.
