Tron Surpasses 50% of USDT Token Supply
Tron (TRX) has taken a significant lead in stablecoin adoption. as of May 16, more than half of all USDT tokens are now hosted on the Tron blockchain. This surpasses Ethereum (ETH) and other chains combined.
TronScan data shows that the total USDT supply on Tron exceeds $75.7 billion. With a total market cap of around $151 billion, Tron has just crossed the 50% mark. This achievement comes after a surge in Tron’s blockchain activity, with over 60 million transactions in the past week.
Tron’s dominance in USDT is not without challenges. Earlier this year, a decline in asset prices led many investors on other chains to convert thier crypto into stablecoins, boosting USDT supply ther. However, as crypto prices recovered, users on other chains converted USDT back into Bitcoin and altcoins. Tron’s role in stablecoin transfers helped it regain it’s position.
Tron’s success is partly due to its lower transaction fees compared to Ethereum and its strong network effects. The blockchain also maintains a close relationship with Tether,the issuer of USDT. In January, Tether coordinated a $1 billion USDT migration to Tron, further solidifying its position.
Tron’s growing influence in the stablecoin market highlights its importance in the crypto ecosystem. As the blockchain continues to evolve, it may play an even bigger role in shaping the future of digital currencies.
