TRON-Based USDT Surpasses Visaโs Trading Volume
Impressively, the 24-hour trading volume of Tether (USDT) on the TRON network has hit $53 billion, outpacing Visa, a global payment giant, which managed an average daily trading volume of $42 billion in Q1 of 2024. This comparison highlights the rapid growth and adoption of USDT on the TRON network.
Statistics of USDT on TRON Network
The latest data from Lookonchain showcased the rapid rise of USDT on TRON with staggering numbers. Some key statistics include:
- 24-hour trading volume of $53 billion on TRON
- Over 45.5 million holders of USDT on TRON
- Total transfer count exceeding 1.8 billion
- Top ten holders owning 27.69% of total USDT supply
Steady Growth in USDT Transactions on TRON
Since January 2023, the transaction volume of USDT on the TRON network has been on a consistent upward trajectory. With around two million daily transactions since February, the demand for USDT on TRON has been steadily increasing, reaching new heights in 2024.
TRINโs Dominance in USDT Transactions
In a notable development, TRIN, a metric to measure USDT transactions, saw a remarkable uptick in the first week of April. The weekly volume of USDT transactions hit $110 billion, surpassing Ethereum’s volume and underlining investors’ preference for TRON as a blockchain platform.
Introduction of aUSDT – A Gold-Backed Stablecoin
Tether’s CEO, Paolo Ardoino, recently unveiled aUSDT, a novel stablecoin backed by Tether’s gold-supported digital asset XAUt. This move was highly praised by industry experts, with Willi Woo, the creator of the stock-to-flow model, lauding it as a “genius business idea” from Tether.
According to Ardoino, while USDT generates returns from U.S. Treasury Bills, the introduction of aUSDT allows users to benefit from gold price appreciation, offering a unique diversification opportunity in the stablecoin market.
Hot Take: USDT On TRON Making Waves
The rise of USDT on the TRON network, surpassing Visa’s trading volume, signifies a significant milestone in the adoption of stablecoins within the crypto space. With innovative developments like aUSDT, Tether continues to push boundaries and offer users new avenues for diversification and value appreciation in the digital asset market.
As cryptocurrencies and stablecoins gain mainstream acceptance, the competition for market share and user adoption intensifies, leading to increased innovation and improved offerings for crypto investors.
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Sources:
– Lookonchain [https://x.com/lookonchain/status/1804006820585050559]
– TronScan [https://tronscan.io/#/token20/TR7NHqjeKQxGTCi8q8ZY4pL8otSzgjLj6t/analysis?selectedItem=2]
Owen Patter is a distinguished crypto analyst, accomplished researcher, and skilled editor, leaving a notable imprint on the cryptocurrency landscape. As a proficient crypto analyst and researcher, Owen delves into the intricate realms of digital assets, offering insights that resonate with a diverse audience. His analytical acuity is harmoniously paired with adept editorial skills, allowing him to transform complex crypto information into easily comprehensible content. Owen’s contributions serve as a valuable guide for both seasoned enthusiasts and newcomers, aiding them in navigating the dynamic world of cryptocurrencies with well-researched perspectives. With a meticulous commitment to precision, he empowers informed decision-making in the ever-evolving crypto domain.
