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Amount of Tether (USDT) on Tron Blockchain Continues To Grow

29 January 2020 15:29, UTC
Amount of Tether (USDT) on Tron Blockchain Continues To Grow
By Anna Martynova

According to CoinMetrics, the volume of Tether released on the Tron blockchain (USDT-TRX) reached about 1 billion. After the decline of 2019, Tether, based on Omni, has reached 1.5 billion in market capitalization and continues to decline.

In the world, Tether on Omni is inferior to Ethereum in the total supply of stable coins. The gap between the two coins continues to widen, and the total volume of ether-based stablecoins has reached nearly 2.5 billion tokens.

Meanwhile, Tron CEO Justin SUN made an adventurous forecast that the TRC20-based USDT will become the number one stable coin. However, taking into consideration the rapid growth of USDT-ETH, Tron will not be easy to beat the competitor and realize its forecasts.

Tether regularly expands the list of its offers. On January 23, the company launched Tether Gold (XAU ₮), which is tied to a troy ounce of gold. An important point of the product is that its owners are not required to pay a storage fee. The volume of the first day XAUT showed a confident start and amounted to $150,000.

Image courtesy of Medium blog



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