TRON-Based USDT Accounts for Majority of Total Supply, Surpassing Ethereum

IconCryptoNewsTerminal Staff17 Jul, 2024

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TRON-Based USDT Accounts for Majority of Total Supply, Surpassing Ethereum

On-chain analysis firm CryptoQuant has revealed that TRON (TRX)-based USDT now holds over 53% of the total USDT supply, eclipsing Ethereum-based USDT (46%). This shift indicates a significant migration of USDT assets to the TRON network. CryptoQuant emphasized that USDT plays a crucial role in network activities on TRON and highlighted the growing number of individual investors holding TRON-based USDT. Addresses with less than 1,000 USDT have surged to 52.6 million, exhibiting steady growth even amidst the bear market of 2022. This suggests that the TRON network has attracted a significant number of retail investors seeking to hold USDT. The dominance of TRON-based USDT may provide advantages such as faster transaction speeds and lower fees compared to Ethereum-based USDT. As a result, it is likely that TRON will continue to play a key role in the USDT ecosystem, offering an alternative for users seeking efficient and cost-effective stablecoin transactions.

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