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USDT-Tron In Circulation Volume Now Exceeds 5.1 Bln with 22 Mln Transactions Performed

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Mon, 11/09/2020 - 10:37
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Yuri Molchan
Justin Sun has tweeted that the amount of USDT now circulating on the Tron chain has blasted through 5.1 bln, setting a new record for the Tron network
USDT-Tron In Circulation Volume Now Exceeds 5.1 Bln with 22 Mln Transactions Performed
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Tron has seen a drastic rise of USDT circulating on its blockchain. It is now greater than 5.1 bln coins, Tron chief Justin Sun has proudly tweeted.

This has been achieved after 22 mln transactions performed with this Tron-based stablecoin.

Aside from this, a gargantuan amount of TRX has been wired between unknown wallets and the Poloniex exchange.

USDT
Image via Twitter

5.1 bln USDT-Tron circulating out there

According to tweets from Justin Sun and the Tron Foundation, the number of circulating USDT-Tron stablecoin has surpassed 5.1 bln.

The Foundation also mentions a record number of transactions: 22 mln have been performed with this stablecoin by this point.

USDT launched on Tron in April last year after a partnership between Tron and Tether. It has been gradually rising, with the CEO, Justin Sun, intending to turn USDT-Tron into the most popular stablecoin.

Ethereum remains the most popular USDT platform

Despite the aforementioned USDT-Tron record, Ethereum remains the most popular blockchain on which Tether has been issuing its stablecoin.

According to the Tether transparency page, right now there is a $11,227,080,729 worth of USDT circulating on the second largest blockchain networkmore than twice more than on Tron.

What's more, USDT from Tron is often transferred to Ethereum.

A week ago, as reported by U.Today, a whopping 100 mln USDT was shifted from Tron to Ethereum, showing that ETH-based USDT remains the leader among the other blockchains, on which USDT has been emitted: Tron, EOSIO, Omni, Liquid, Algorand and SLP.

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673 mln TRX wired between Poloniex and anon users

Whale Alert crypto tracker has posted data that, in the course of three consecutive transactions, a gargantuan amount of 673 mln TRX has been shifted by whales to and from the Poloniex exchange in total.

A total of 500 mln was wired after 128 mln and 45 mln TRX.

TRX
Image via Twitter
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About the author

Yuri is a crypto journalist interested in technology and technical innovations. He has been in crypto since 2017. Believes that blockchain and cryptocurrencies have a potential to transform the world in the future in many of its aspects. ‘Hodls’ major cryptocurrencies and has written for multiple crypto media outlets. 

His articles have been quoted by such crypto influencers as Tyler Winklevoss, John McAfee, CZ Binance, Max Keiser, etc.

Currently Yuri is a news writer at U.Today and can be contacted at yuri.molchan@u.today.