The capitalization of the stablecoin market continues to grow – USDT has already exceeded $ 50 billion in this indicator. At the same time, more USDT circulates in the Tron network than in the Ethereum network.
“This is an incredibly important achievement. The success of USDT will be a prologue to the success of national cryptocurrencies as well as the banking system of the future, ”said Paolo Ardoino, CTO of Tether, behind the USDT stablecoin.
At the same time, the number of USDT stablecoins circulating in the Tron blockchain exceeded that in the Ethereum network. Currently, Tron users have access to 26 billion USDT, and the Ethereum network hosts 24.4 billion USDT.
“Users prefer USDT on the Tron network due to lower fees and faster transaction confirmation,” explained Ardoino.
Currently USDT holds 66% of the stablecoin market. USDC is in second place (17%), while BUSD is in third place (9%). At the same time, the share of USDT has been gradually decreasing in recent months – stablecoins USDC and BUSD are growing at a faster pace.
Last week, USDT emerged from the Hermez Network’s second tier solution for Ethereum. It solves the problems of high commissions and long confirmation of transactions, however, additional actions from the side of users are required to use it.
Earlier this month, it was reported that Tether would launch its stablecoin on the Polkadot blockchain.
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