Data sourced from Lookochain indicates that Tether's (USDT) 24-hour trading volume on the TRON (TRX) network has reached an astounding $53 billion, surpassing the average daily trading volume of Visa by $11 billion in the first quarter of 2024. This significant milestone underscores the increasing adoption and demand for stablecoins, notably within the Tron network.
The market intelligence firm Lookonchain has reported that Tether's USDT, the prominent stablecoin on the Tron Network, has exceeded the daily trading volume of Visa, a major payment giant, which stood at $42 billion. This achievement signifies the growing presence and preference for stablecoins, particularly on the TRON (TRX) network.
This notable comparison highlights the significance of Tether's USDT dominance on TRON, showcasing its surpassing of Visa's $42 billion daily trading volume. The data from Lookonchain reveals the rapid surge to $53 billion for USDT on TRON (TRX), outshining Visa's comparable figures for the first quarter of 2024.
The comparison of Tether's USDT volume on the TRON network to Visa's trading volume emphasizes the shift towards stablecoins and their increasing popularity in digital asset transactions. Tron's leading role in the cryptocurrency market and financial sector is further affirmed by the stablecoin's performance as a pivotal link between volatile digital assets and traditional fiat currencies.
A significant aspect reported by Crypto News Flash notes Tron's leadership in daily user activity, with 5.6 million active users, surpassing the second-positioned BNB chain with 4.3 million users. Moreover, data from Tronscan illuminates the vibrant activity around USDT on Tron fueled by community engagement. The network hosts over 45.5 million USDT holders, with a total transfer count exceeding 1.8 billion.
It is worth highlighting that the top ten holders collectively possess a substantial portion (27.69%) of the USDT supply on Tron, effectively controlling 16.56 billion USDT. This concentration of ownership signifies a significant stake in the stablecoin's market on the TRON network.
The noticeable surge in USDT's daily trading volume showcases the growing demand for stablecoins, especially during market fluctuations. Stablecoins like USDT provide stability in the volatile cryptocurrency space, serving as a safe haven for investors seeking shelter from uncertainty in digital assets.
The upward trajectory of USDT's trading volume traces back to early 2023 when the network began witnessing a consistent increase in transaction volume, averaging around two million daily transactions. This trend persisted through 2024, culminating in a remarkable high of $110 billion in USDT transactions on Tron in the initial week of April, surpassing Ethereum's figures.
The surge in USDT transactions is driven by Tether's strategic product launches, including the inauguration of aUSDT, a novel synthetic dollar secured by Tether's gold-backed digital asset, XAUt. This innovative stablecoin is structured to benefit from gold price appreciation while remaining pegged to the US dollar.
In conclusion, Tether's USDT outperforming Visa's daily trading volume on the TRON (TRX) network signifies a groundbreaking achievement in the cryptocurrency sphere. It underscores the escalating adoption and demand for stablecoins, particularly within the Tron network, showcasing its pivotal role in the evolving digital asset landscape.
Currently, TRX is trading at $0.1186, reflecting a 1.39% increase in the last seven days, reaffirming its position as a prominent network for investors.
