The trading volume of Tether (USDT) on the TRON network has set a new record, reaching a staggering $53 billion. This surpasses the average daily trading volume of payment giant Visa in the first quarter of 2024, which was reported at $42 billion. The comparison to Visa, a global leader in payment processing, underscores the growing popularity and utility of TRON-based USDT.
Data from TronScan reveals that there are over 45.5 million holders of USDT on the TRON network, with a total transfer count exceeding 1.8 billion. Additionally, the top ten holders collectively possess 27.69% of the total supply on the network, amounting to 16.56 billion USDT. This widespread adoption of USDT on TRON reflects the increasing demand for stablecoins in the crypto market.
Since January 2023, the transaction volume of USDT on the TRON network has been steadily increasing. With an average of two million transactions daily since February, this upward trend has continued into 2024. Notably, TRIN’s weekly volume for USDT reached an impressive $110 billion in the first week of April, outpacing transactions on other blockchain platforms like Ethereum. This dominance in the market demonstrates investors’ confidence in TRON as a preferred platform for stablecoin transactions.
The introduction of a new synthetic dollar, aUSDT, backed by Tether’s gold-backed digital asset XAUt, marks a significant milestone. Tether CEO Paolo Ardoino’s strategic decision was praised by industry analysts and market experts, who hailed it as a “genius business idea.” This new stablecoin is expected to capitalize on gains from gold, in contrast to USDT’s current returns on U.S. Treasury Bills.
The rise of Tether (USDT) on the TRON network signals a transformative shift in the crypto market. With record-breaking trading volume, widespread adoption, steady growth, and innovative developments, TRON has emerged as a leading platform for stablecoin transactions. As the demand for digital assets continues to rise, TRON’s position in the market is only set to strengthen further.