News from Justin Sun: Tether on TRON is 5th in the ranking
Blockchain

News from Justin Sun: Tether on TRON is 5th in the ranking

By Alfredo de Candia - 16 Oct 2019

Chevron down

A few hours ago, TRON’s CEO, Justin Sun, re-tweeted an interesting news story regarding the development of the Tether stablecoin (USDT) powered by the TRON blockchain. Currently, in fact, it would be ranked 5th in terms of use.

Tether is the stablecoin issued by Bitfinex that has managed to grow a lot thanks to partnerships with several blockchains. It has also become a reference for those blockchains that do not yet have their own stablecoin.

It is worth noting that for each blockchain, Tether uses its own token, so there are several tokens representing USDT: there is the version based on Omni, TRON, Ethereum, EOS and many more. Essentially it is always the same stablecoin but operating on different blockchains.

As far as the TRON blockchain is concerned, the token is the TRC20 USDT, indicating that the Tether stablecoin is based on Justin Sun’s ledger. 

The published data shows that the blockchain with the highest USDT capitalisation is Omni’s, then Ethereum’s and finally, in fifth place, there’s TRON with over 95 million TRC20 USDT traded.

This is certainly a significant result since the Tether stablecoin has been available on TRON only for a couple of months. During the summer there was also a Tether airdrop for those who already had TRC20 tokens.

Alfredo de Candia
Alfredo de Candia

Android developer for over 8 years with a dozen of developed apps, Alfredo at age 21 has climbed Mount Fuji following the saying: "He who climbs Mount Fuji once in his life is a wise man, who climbs him twice is a Crazy". Among his app we find a Japanese database, a spam and virus database, the most complete database on Anime and Manga series birthdays and a shitcoin database. Sunday Miner, Alfredo has a passion for crypto and is a fan of EOS.

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