The 24-hour trading volume of Tether (USDT) on the TRON network has reached an impressive $53 billion, surpassing the average daily trading volume of payment giant Visa for the first quarter of 2024, which stood at $42 billion. This milestone is significant considering Visa’s reputation as one of the world’s largest payment processors, facilitating billions of transactions globally. The surge in the value and adoption of TRON-based USDT is evident from the latest statistics shared by Lookonchain, highlighting the network’s growing dominance in the digital assets space.
Notably, USDT on the TRON network has attracted over 45.5 million holders, as reported by TronScan. Additionally, the total number of transfers made using TRON-based USDT has exceeded 1.8 billion, showcasing the widespread use and popularity of the stablecoin. Interestingly, the top ten holders of USDT on TRON collectively possess 27.69% of the total supply, amounting to 16.56 billion USDT. This concentration of holdings among a few addresses indicates a high level of liquidity and trading activity within the TRON ecosystem.
The transaction volume of USDT on the TRON network has been steadily increasing since January 2023, with an average of around two million transactions conducted daily since February. This upward trend has continued into 2024, with TRIN’s weekly volume for USDT reaching a remarkable $110 billion in the first week of April alone. This volume surpassed the amount settled on Ethereum, a leading blockchain platform, underscoring investors’ growing preference for TRON as a thriving ecosystem for digital assets.
In a strategic move to expand its offerings, Tether CEO Paolo Ardoino introduced a new synthetic dollar, aUSDT, backed by Tether’s gold-based digital asset XAUt. This innovative product was praised by industry expert Willi Woo as a “genius business idea” by the stablecoin issuer. Ardoino explained that while USDT currently generates returns from U.S. Treasury Bills, the new stablecoin stands to benefit from gold price movements, providing users with additional investment opportunities and diversification within the Tether ecosystem.
The rise of TRON-based USDT and its surpassing of Visa’s trading volume signal a significant shift in the digital assets landscape towards blockchain-based stablecoins. The increasing adoption, liquidity, and innovative developments within the TRON ecosystem showcase its potential to become a key player in the global digital economy. Investors and users alike are increasingly turning to TRON for its efficiency, scalability, and diverse range of financial products, solidifying its position as a prominent blockchain platform for the future.
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