Hold onto your hats, folks! TRON has just hit a massive milestone, bouncing back from mid-2024 slumps to smash through records with its USDT transfer volume in November. Picture this: $587.2 billion worth of USDT transfers zipped through the TRON blockchain, outshining the $424.4 billion in September and the $489.3 billion in October.
This jaw-dropping achievement, noted by sharp-eyed CryptoQuant analyst Maartunn, marks a huge leap from July 2019 when TRON was moving a mere $73.8 million in USDT. Fast forward a few years, and it’s been a steady climb with $287.1 billion in May 2021, $315.5 billion in 2022, and $462.6 billion in March 2024. After a brief dip in May and June, TRON's transfer volume took off again, hitting the November high scores.
October wasn't just about the money moving around; TRON also saw a record-breaking number of USDT receivers, peaking at 10.6 million. Although the sender numbers took a slight dip compared to May’s 10.18 million, they still held strong with 9.2 million in October.
So, what’s fueling this stablecoin frenzy on TRON? Well, some say it's all about those juicy perks like low transaction fees, speedy processes, and wallet-friendly remittance services.
And it’s not just good news for USDT transfers – TRON’s native TRX token is basking in the spotlight too. According to CoinGecko, TRX has rocketed more than 160% over the past year, possibly riding the wave of TRON’s growing status in the crypto universe. As of now, TRX is priced at $0.2912, enjoying a 3.3% uplift in the last 24 hours and outperforming many of its rivals in the past week.
But wait, there's more! While TRON has been leading the charge in USDT transfers, Ethereum isn't sitting on the sidelines. Tether recently minted $20 billion worth of the stablecoin on Ethereum, nudging it ahead of TRON in the USDT supply stakes. Experts are placing bets that Ethereum's supply of the top stablecoin will hit a whopping $1 trillion by the end of 2025, cementing its status as a heavyweight in the blockchain arena.
And if that wasn’t enough action, Circle and Binance have teamed up to boost the reach of USDT's closest competitor, USDC. This alliance means Binance will roll out USDC to its 240 million strong user base, integrating it into its corporate treasury toolkit. The crypto world is buzzing – stay tuned!
