The Tron blockchain has set a new milestone by becoming the first blockchain to have a single stablecoin surpassing $60 billion in issuance. According to data from TRONSCAN, the issuance of TRC20-USDT has reached a new record, with 60.849 billion tokens issued. As of now, the number of accounts holding TRC20-USDT has reached 47.3 million, with the total number of transactions exceeding 1.858 billion.
The issuance of TRON USDT has exceeded $60 billion, which is a significant milestone. We have also become the first blockchain with a single stablecoin surpassing $60 billion.
Diving deep into the tokenomics reveals that the total market value of TRC20-USDT has hit $60.85 billion. A day before that, trading on the TRON blockchain reached 1.858 billion, with a transaction count of 2.341 million. The total number of accounts on the TRX blockchain has reached 87.91 million. The circulation of USDT has reached 60.82 billion, with yesterday’s circulation reaching 2.44 million.
The blockchain’s official website states that USDT is the official stablecoin of TRON. The issuer of USDT is Tether Limited, a Hong Kong-based company. The USDT contract address is THPUhoh2QZYTHCZMLH15Sh, and the issuance time was 2019-04-18 at 12:41:20 [UTC].
TRON Soar Amidst Market Turmoil
In a recent analysis of CryptoQuant, it was found that TRX has been able to hold on to its user base due to the variety of services it provides. This development is crucial amidst a broader market downturn. The network’s resilience is attributed to the various use cases it offers to users such as payment, stablecoins, and real-world assets integration. As reported by TronWeekly, these features draw users and help to retain them even in times of other networks’ crises in user engagement.
Trondao has exhibited a resilient user base as active users have grown since the start of the year and maintained near-all-time high levels despite market uncertainty and sell pressure across the broader crypto market. I argue that the unique applications across the TRX ecosystem such as payments, stablecoins, and real-world assets have allowed the network to retain and grow its user base as other networks have struggled to find their footing.
