USDT Transfer Volume Hits $52.9B as BNB Chain Overtakes Ethereum Since May

• BNB Chain captures 30% of USDT volume, overtaking Ethereum’s 27% share since May 2025.
• USDT 30-day average transfer volume hits $52.9B signalling steady stablecoin recovery.
• Tether has reported $4.9 billion Q2 profits with $157B circulating supply growth.

USDT transfer volume has climbed to $52.9 billion on a 30-day moving average basis, marking a steady recovery in stablecoin velocity since the early 2022 market turbulence. According to Glassnode data, this gradual increase shows consistent growth in market activity and stablecoin adoption across multiple blockchain networks.

The sustained volume growth comes as Tether issues over $13 billion in new USDT during Q2 2025, bringing the total circulating supply to $157.1 billion. This represents a $20 billion year-to-date increase and widens the gap with competing stablecoins to over $100 billion according to CEO Paolo Ardoino.

BNB Chain Captures Market Share from Ethereum

Blockchain distribution data as of July 30, 2025 reveals changing dynamics in USDT transfer patterns across major networks. Tron maintains the largest share with $23 billion in monthly volume, while BNB Chain’s $14.9 billion has over…

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