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.
Soon TRC20 $USDT will be the largest stablecoin in the world! #TRON #TRX $TRX https://t.co/ZaktbiRzI6
— H.E. Justin Sun å™å®‡æ™¨ (@justinsuntron) October 16, 2019
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.Â
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.
