The post Tether’s Daily Trading Volume on Tron Surpasses Visa with $53 Billion Milestone appeared on BitcoinEthereumNews.com.

Latest reports show that the daily trading volume of the stablecoin Tether (USDT) on the Tron (TRX) blockchain has outpaced that of the credit card behemoth Visa. Professionally analyzing the market trends reveals that, earlier this week, Tether’s trading volume reached a staggering $53 billion over a single day, significantly higher than Visa’s $42 billion during the same period. Lookonchain’s data indicates that the number of transactions for USDT on the Tron Network surpassed 2 million within 24 hours, reflecting a notable increase. Discover how Tether’s daily trading volume on the Tron blockchain is outperforming Visa in recent market trends and what this means for the future of digital assets. Tether Outperforms Visa in Daily Transaction Volume Newly released data indicates that Tether (USDT) has surpassed Visa in daily transaction volume on the Tron (TRX) blockchain. For a day, Tether saw its volume rise to an impressive $53 billion, which is nearly 10% higher than Visa’s volume of $42 billion. Implications of USDT Volume Spike This significant milestone underscores the growing adoption of digital assets for regular financial transactions. Analysts attribute this surge to the increasing trust and efficiency offered by blockchain technology, which contrasts with traditional financial instruments. The $53 billion trading volume is a substantial indicator of this trend. Increased Transaction Activity on Tron Network Alongside the heightened volume, the Tron network experienced a notable increase in transaction frequency, with over 2 million transfers executed within a 24-hour period. This represents a 5.14% increase in user engagements, highlighting the network’s robustness and scalability in handling high transaction volumes efficiently. Launch of Gold-Backed aUSDT Earlier this month, Tether introduced a new gold-backed stablecoin, aUSDT, backed by Tether Gold (XAUT), which holds reserves of physical gold stored in Switzerland. Tether’s CEO, Paolo Ardoino, emphasized the significance of this innovation, stating,…

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Filed under: News - @ June 23, 2024 5:16 pm