In fact, USDT tokens exist on several different blockchains. Initially, they only existed on the Bitcoin blockchain, thanks to the Omni protocol, but then they landed on Ethereum, and later on Tron, EOS, Liquid, Algorand, SLP and Solana.
Since they were also issued on Ethereum, these have taken over, and there are now only less than 3% on Omni.
However, for some time now Ethereum has suffered from a problem that makes USDT less usable, namely high transaction fees and slow execution times.
It now takes at least $10 of gas to be able to have a good guarantee that a transaction on Ethereum will be validated quickly, and this certainly hurts smaller transactions in particular.
Transactions on Tron, on the other hand, have much lower commission costs and better execution speed. Ever since Tether issued USDT on Tron, these have often been preferred to those on Ethereum.
Tether, 22 billion USDT on Tron
To date, the company has issued nearly 22 billion USDT on the Tron blockchain, which is more than 46% of all USDT issued.
— Justin Sun🌞 (@justinsuntron) April 13, 2021
In fact, even comparing the numbers for total daily transactions recorded on the two blockchains, Tron has been outperforming Ethereum for some time now, probably due to the lower cost of gas.
However, TRX has not yet reached its all-time high of $0.3 from January 2018, while ETH has already far surpassed the peaks it touched in that same month.