January 24, 2021

Tron's stablecoin stake reaches 12%

Tron-based USDT tokens account for more than 12% of the total offer of the most popular stablecoin.

According to Tronscan, to date, 520 million Tether “stable coins” have been issued on the Tron blockchain.

Tron's stablecoin stake reaches 12%

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Given the current supply volume of Tether (USD 4.1 billion), the share of TRC20 tokens in it is 12.65%.

A significant increase in the share of USDT of the new standard occurred today, October 25. Initially, the TRON Foundation wrote about the new 100 million TRC20 stablecoins:

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Then a Whale Alert Twitter account discovered a transaction with $ 40 million TRC20-USDT:

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In a comment on a tweet, Bitfinex Technical Director Paolo Ardoino explained that the transaction is the result of the migration of tokens from the Ethereum standard ERC20 to TRC20.

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Note that against the background of these transactions, the price of bitcoin is growing:

Tron's stablecoin stake reaches 12%

TradingView's BTC / USD Bitstamp Half-hour Chart

Recall that Tether launched the Tron-based USDT in April this year.