February 1, 2023

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%

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:

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

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.

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.