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Tron’s USDT Volume Hits $110B, Double Ethereum’s Settlements
The post Tron’s USDT Volume Hits $110B, Double Ethereum’s Settlements appeared on BitcoinEthereumNews.com. Tron’s USDT transactions surged to $110 billion weekly, topping Ethereum, due to low fees and easy access. TRON’s price dropped by 1% in the last 24 hours, underperforming the broader cryptocurrency market. Tron, the blockchain network renowned for its low transaction fees, has recently witnessed a significant surge in USDT (Tether) transactions, surpassing $110 billion in weekly volume during the first week of April. Blockchain analytics firm IntoTheBlock reported this milestone, which marks a notable increase compared to USDT settlements on other networks, particularly Ethereum. The weekly USDT transaction volume on @trondao hit $110B last week, more than 2x what was settled on Ethereum. Thanks to its low network fees, USDT on Tron has become a way for many people around the world to access the US dollar. pic.twitter.com/G2yPcWqjDw — IntoTheBlock (@intotheblock) April 10, 2024 IntoTheBlock attributed Tron’s dominance in USDT transactions to its favorable ecosystem, characterized by minimal fees and easy access to the United States dollar-backed stablecoin. The network’s efficiency has facilitated a seamless flow of transactions, drawing users seeking cost-effective solutions. Tether’s market capitalization recently soared to $100 billion, underscoring its prominence in stablecoin. Despite being available across 15 blockchains and protocols, a significant portion of USDT supply resides within the Tron network, reflecting its strong foothold in the ecosystem. Tron’s USDT Dominance Attracts Regulatory Scrutiny While Tron’s dominance in USDT transactions underscores its appeal to users seeking cost-effective and efficient transactions, it has also drawn attention from regulators due to concerns over illicit activities. As previously reported by Crypto News Flash, Tron accounted for 45% of illegal transaction volumes in 2023, surpassing Ethereum and Bitcoin. Criminal entities, including cybercriminals, North Korean hackers, terrorist financiers, and drug sellers, favor Tron for its low fees and minimal price fluctuations, facilitating the exchange of stolen and illicit assets, often…
The post Tron’s USDT Volume Hits $110B, Double Ethereum’s Settlements appeared on BitcoinEthereumNews.com.
Tron’s USDT transactions surged to $110 billion weekly, topping Ethereum, due to low fees and easy access. TRON’s price dropped by 1% in the last 24 hours, underperforming the broader cryptocurrency market. Tron, the blockchain network renowned for its low transaction fees, has recently witnessed a significant surge in USDT (Tether) transactions, surpassing $110 billion in weekly volume during the first week of April. Blockchain analytics firm IntoTheBlock reported this milestone, which marks a notable increase compared to USDT settlements on other networks, particularly Ethereum. The weekly USDT transaction volume on @trondao hit $110B last week, more than 2x what was settled on Ethereum. Thanks to its low network fees, USDT on Tron has become a way for many people around the world to access the US dollar. pic.twitter.com/G2yPcWqjDw — IntoTheBlock (@intotheblock) April 10, 2024 IntoTheBlock attributed Tron’s dominance in USDT transactions to its favorable ecosystem, characterized by minimal fees and easy access to the United States dollar-backed stablecoin. The network’s efficiency has facilitated a seamless flow of transactions, drawing users seeking cost-effective solutions. Tether’s market capitalization recently soared to $100 billion, underscoring its prominence in stablecoin. Despite being available across 15 blockchains and protocols, a significant portion of USDT supply resides within the Tron network, reflecting its strong foothold in the ecosystem. Tron’s USDT Dominance Attracts Regulatory Scrutiny While Tron’s dominance in USDT transactions underscores its appeal to users seeking cost-effective and efficient transactions, it has also drawn attention from regulators due to concerns over illicit activities. As previously reported by Crypto News Flash, Tron accounted for 45% of illegal transaction volumes in 2023, surpassing Ethereum and Bitcoin. Criminal entities, including cybercriminals, North Korean hackers, terrorist financiers, and drug sellers, favor Tron for its low fees and minimal price fluctuations, facilitating the exchange of stolen and illicit assets, often…
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