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TRON's rise to dominance and the future of its stablecoin

TRON's rise to dominance and the future of its stablecoin

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Jonny Fry
Sep 03, 2024
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Digital Bytes
Digital Bytes
TRON's rise to dominance and the future of its stablecoin
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Currently, TRC20 (which is USDC on the TRON blockchain), outperforms Circle and its USDC stablecoin in terms of volume of transaction. This further underscores stablecoin payments as a major use case for TRON. And, despite Circle's earlier decision, the adoption trend for TRON remains strong since USDT continues to dominate whilst USDC lags behind. And TRON’s ecosystem has remained resilient, with its blockchain maintaining its position as the primary platform for USDT transactions - Tether’s USDT is accounts for 70% of the stablecoin market worldwide. Worthy of note, as reported by Cointelegraph, is that: “USDT settlements on the TRON network surged to roughly one-third of payment giant Visa's total settlement volume for the second business quarter of 2024, accounting for a whopping $1.25 trillion in transaction settlements on the TRON network.” Meanwhile, blockchain tracking firm, Lookonchain, has reported that Tether minted 33 billion USDT in the past year, with 19 billion on the T…

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