Tron (TRX) Surpasses Dogecoin in Market Cap as Stablecoin Utility Drives Growth

In a significant shift in the crypto rankings, Tron (TRX) has officially overtaken Dogecoin (DOGE) by market capitalization, securing a spot in the global top nine on CoinMarketCap. TRX now boasts a market cap of over $26 billion, edging past DOGE's $24.6 billion. While TRX price only rose by a modest 1.05% over the week, the real driver behind this leap is its growing role in stablecoin infrastructure.

Tron's blockchain has become a dominant force in Tether (USDT) transactions, surpassing Ethereum in volume due to faster processing times and near-zero fees. With more than 50% of all USDT — approximately $80.7 billion — circulating on the Tron network, TRX has cemented itself as a key player in the digital payments ecosystem. This real-world utility contrasts sharply with Dogecoin, which, despite its loyal community and celebrity endorsements, has seen limited adoption beyond its meme coin status.

The crypto market is evolving, with tokens offering functional value now outpacing those driven purely by hype. This shift is exemplified by TRX flipping DOGE, highlighting investor preference for utility-backed assets, especially those tied to stablecoin growth. While Dogecoin could see renewed interest if the proposed DOGE ETF gains traction, Tron isn’t slowing down either — a TRX ETF application is already under regulatory review.

As the blockchain space matures, TRX’s rise signals a broader trend: utility is increasingly king in crypto valuations. Investors are watching closely as utility tokens like TRX continue to challenge meme coins in long-term relevance and institutional appeal.