March 29, 2024

12% of all USDTs are on the Tron blockchain

12% of all USDTs are on the Tron blockchain

The number of Tether (USDT) tokens issued on the Tron (TRX) blockchain now represents almost 12% of the total supplyUSDT.

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.

Changing blockchains – it is the process that moves cryptocurrency from one blockchain to another. He said:

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

Based on materialscointelegraph.com