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Record volumes for Tether on Tron
Record volumes for Tether on Tron
Stable Coin

Record volumes for Tether on Tron

By Alfredo de Candia - 7 Oct 2020

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As Justin Sun himself shared on Twitter, the daily trading volumes for Tether’s (USDT) stablecoin on Tron have exceeded those on the Ethereum blockchain, at least according to the data of the last 2 months.

The Tether team has managed to create a system for which the same stablecoin can be exchanged on virtually any blockchain. In this way users can take advantage of Tether on Ethereum, as on Tron, EOS, Bitcoin Cash and so on, but its value remains stable regardless of the blockchain on which it is located.

Tether, in fact, is a stablecoin 1 to 1 with the U.S. dollar, so each stablecoin equals the value of $1.00 USD.

The figures are incredible: there are over 15 billion USDT in circulation of which 10 billion are on the Ethereum blockchain, while over 4 billion are on the Tron one, making it the second largest blockchain, exceeding even Omni, where instead there are only 1.3 billion USDT.

The volumes of Tether on Tron

From here we can understand that the record reached by USDT on Tron is not to be underestimated because it has a supply equal to less than half of the Ethereum one. 

Since the end of August this year the volumes on Tron have seen a real explosion with a peak of half a million transactions recorded in early September.

USDT Tron

These data and also the period are not random, since in that period there was the launch of JustSwap, DEX on which you can also list your own token.  In the same period there was also the launch of the SUN project.

Anyway, surely these are important data showing that this blockchain still has much to prove. Let us not forget also that the opening to decentralized finance (DeFi) has brought several tools in this area and the most used assets are the stablecoins with Tether (USDT) in the lead.

 

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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