As the global crypto market keeps growing, stablecoins are playing “a more indispensable role, with TRC20-USDT becoming a mainstay.”
On March 23, 2022, Tether’s (USDT) official data showed that “the supply of TRC20-USDT topped 40.7B, surpassing that of ERC20-USDT (39.8B).” This is another milestone for TRON in the stablecoin market, “cementing its dominance across the board.”
In the blockchain sector, stablecoins serve as “a measure of value, a popular gateway to newbies, and an effective tool to hedge risks.” The explosive growth of the crypto market in 2021 “ramped up the market cap of stablecoins, bringing them to the forefront of the industry while highlighting their edge in global settlement.”
As a public blockchain platform that claims to be “equally competent” in terms of the ecosystem, performance, and security, TRON is “doing its best to meet the demand of stablecoin issuers for supply growth and that of blockchain users for asset transfer.”
According to Tokenview, Tether added “another 31B USDT from August 2021, with 22B TRC20-USDT and 9B ERC20-USDT.”
Accordingly, the supply of TRC20-USDT is on “a steady rise, accounting for roughly 50% of the total USDT supply and over 20% of the total stablecoin market cap worldwide.”
The total number of accounts holding TRC20-USDT has “exceeded 11.6M, with its monthly increase hitting 1M.”
This explosive growth is “directly credited to its unique advantage,” according to a blog post which also mentioned that 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, which are friendly to both users and project teams.”
The update further noted that “more and more users have made their choice with action as the average daily transfer of USDT-TRON is on a stable increase, with its single-day transfer topping $20B on January 22 this year.”
TRON founder Justin Sun remarked:
“As TRC20-USDT’s circulating supply surpassed 40B, both the growth of TRON and stablecoins have been taken to the next level. TRON, home to the industry’s largest stablecoin, will make every endeavor to push stablecoins to the mainstream and make blockchain accessible to more.”
The update also mentioned that TRON has been putting “a premium on stablecoin growth since day one, with constantly scaled-up investments in this sector over the past years.”
Today, relying on the alliance of 4 TRON-based stablecoins USDT, USDJ, TUSD and USDC, TRON has “built a thriving stablecoin [ecosystem] dominated by TRC20-USDT, among them two industry-leading players, one decentralized stablecoin, and one compliant USD-backed coin.”
This stablecoin landscape “powers TRON’s on-chain transactions and offers easy entry to DApps, magnifying TRON’s mission of promoting financial inclusion.” Now, with more than 83M users and over 2.99B total transactions on its public chain, TRON claims that it “enjoys an excellent reputation and credibility among global users.”
Built on a stablecoin ecosystem navigated by TRC20-USDT, TRON claims to have “established itself as the benchmark of emerging global instant payment systems, as proved by its on-chain transfer volume that is several times that on the third-party payment incumbent Paypal.”
As noted in the update, TRON will continue its mission “to benefit financial institutions, digital assets, and the broader DeFi space with efficient, affordable, and all-inclusive transfer channels as well as secure, fast, and low-fee settlement services, seizing all opportunities that blockchain has to offer.”