Tron Stablecoin :: Record USDT Milestones on the Tron Network
Justin Sun, a well-known entrepreneur and founder of the TRON blockchain, spoke about an important milestone in the history of Tether (USDT) stablecoin.
The expert noted that a new USDT record was set based on the TRC-20 standard. According to him, the volume of stablecoins in circulation based on this network has reached $44.02 billion.
According to an Asian businessman, USDT TRC-20 ranked first among all stablecoins in terms of the number of issues in one network. According to the entrepreneur, stablecoins on the Tron blockchain serve as an important gateway for users.
The expert emphasized that they provide users with access to new technologies and decentralized financial sectors. Song noted that stablecoins are needed to change and improve daily life around the world.
There has been a lot of talk about this class of cryptocurrency assets lately. A few months ago, this hype stirred up the digital currency market.
This happened after the collapse of several traditional banks in the US. Silicon Valley Bank (SVB) held part of the collateral for another stablecoin - USD Coin (USDC).
This asset temporarily lost its peg to the value of the US dollar (USD), which caused panic among investors and traders.
However, as of July 28, 2023, the situation has improved: USDC has a market capitalization of $83.8 billion, and the trading volume of this stablecoin in the last 24 hours reached $12.8 billion.
USDC, the token traded at $0.99. The total supply of coins in circulation was $26.55 billion, and market participants made transactions with stablecoins worth $1.68 billion during the reporting period.
Over the past few years, stablecoins have gained worldwide popularity. Many experts argue that this class of digital assets will be critical to the future development of the global economy and the financial sector.
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