September 18, 2020

12% of all USDTs are on the Tron blockchain

12% of all USDTs are on the Tron blockchain

The number of Tether tokens (USDT) issued on the Tron blockchain (TRX) now makes up almost 12% of the entire offer USDT.

Launched in mid-April 2019, tokenTRC20-based USDT reached a total supply of more than 490 million tokens on October 25, representing almost 12% of the 4.1 billion Tether tokens in circulation.

As Tron Foundation confirmed on October 25, the increase in total supply came after the addition of 100 million new USDT tokens based on TRC20.

Also October 25th Whale Alert Tracking Servicereported another major USDT transaction based on TRC20. Its staff noted that Tether Treasury produced 40 million new USDT (equivalent to $ 40.2 million).

Bitfinex Technical Director Paolo Ardoino explained that the transaction is the result of the exchange of ERC-20 tokens between the Ethereum and Tron blockchains.

Blockchain exchange is a process that transfers cryptocurrency from one chain of blocks to another. He said:

This process allows traders to access various blockchains that support the cryptocurrency they own.

According to the materials cointelegraph.com