This article was first published on Stories by TRON Foundation on Medium
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 ...
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Stories by TRON Foundation on Medium