TRON-based USDT Claims Stablecoin Supremacy over Ethereum, Becoming the Top Choice for Hundreds of Millions of Users
On April 14, official statistics from Tether showed that the total circulation of TRC20-USDT has surpassed 23.9 billion with a whopping market cap of over $24 billion, overtaking the supply and market cap of Ethereum-based USDT. So far, TRON has become the largest issuer of USDT, and TRON-based USDT has secured the throne in the stablecoin world.
As the gateway to the blockchain world, stablecoins enjoy diversified use cases. Ethereum-based USDT, while serving as one of the most widely used stablecoins, has attracted continuous criticism for its low transaction speed and high handling fee which push users away from the crypto world. Therefore, the market is in dire need of a “perfect stablecoin” solution.
In April 2019, just two years after its debut, TRC20-USDT overtook ERC20-USDT and claimed the throne in the stablecoin world. This is of course attributed to the unique advantages of TRC20-USDT. The issuance, holding and transfer of TRC20-USDT are all completed on TRON using smart contracts, a process that features full transparency, low cost and instant delivery.
As of today, nearly 30 leading exchanges including Binance, Huobi Global, OKEx, Bitfinex, MXC, BiKi, KuCoin, Gate.io and Poloniex have given support to TC20-USDT, with more than 2.91 million unique addresses. More and more users vowed their support for TC20-USDT with actions.
Founder of TRON and CEO of BitTorrent Justin Sun said, “It is a historic moment that the total circulation of USDT on TRON has surpassed USDT on Ethereum. For the whole TRON ecosystem, this is a hard-won achievement that comes with perseverance and hardwork.I am very delighted to see that TRON-based USDT has become the top choice for hundreds of millions of users, and that TRON has made another stride towards the future finance infrastructure for mankind.In the future, TRON-based USDT will serve as the most stable bridge between the crypto and the real world, introducing people to a broader blockchain world.”
Since its official launch in 2018, TRON has been continuously evolving with improved technology and scalability. As of now, the total number of TRON public chain users has exceeded 28 million and transactions over 1.7 billion. It has gained high reputation and credibility among users worldwide, which cements the safe operation of TRON-based stablecoins.In addition to the TRC20-USDT, TRON is striving to expand its stablecoin ecosystem.
In April 2020, USDJ was born when JUST, the first DeFi project on TRON came live. So far, it has won a large number of users.On April 9, 2021, TUSD, the first digital asset audited by an independent third party, officially announced that it would release its TRC20 token on the TRON network, providing a USD-pegged compliant stablecoin for TRON developers and community members.
TRON’s overtaking Ethereum in USDT supply not only shows users’ recognition of TRON, but also marks an increasingly prosperous and diversified TRON ecosystem. Stablecoin is an important component of DeFi. The tokenized real world assets can circulate freely after being transformed into NFTs. We believe that “artworks as NFTs” is an unstoppable trend that echos the development of human society. We look forward to seeing the value exchange of global financial assets within the same borderless network.
TRON is committed to promoting the decentralization of the Internet and is dedicated to building the infrastructure for a decentralized Internet.The TRON Protocol, one of the largest blockchain-based decentralized operating systems in the world, offers scalable, high-availability, and high-throughput support that serves as the foundation for all decentralized applications in the TRON ecosystem.The Protocol also uses an innovative, pluggable smart contract platform to improve compatibility with Ethereum smart contracts.
On July 24, 2018, TRON acquired BitTorrent Inc., an internet technology company based in San Francisco. The distributed technology designed by BitTorrent Inc. is smart and highly scalable, and keeps creators and consumers in control of their content and data. Over 170 million people use BitTorrent products every month. BitTorrent Inc.’s protocol delivers 40% of the world’s Internet traffic every day.
TRC20-USDT is a USD-pegged stablecoin launched by Tether on the TRON network and has attracted a lot of users because of its efficiency and affordability. Meanwhile, TRC20-USDT is also supported by major exchanges such as Binance, Huobi, OKEx, Bitfinex, MXC Matcha, BiKi, KuCoin, Gate.io and Poloniex. This TRC20-based USDT will enhance the TRON ecosystem, better the overall value storage, bring more liquidity to the DEX (decentralized exchanges), and provide a more convenient gateway to blockchain for business partners and institutional investors.