TRON DAO’s Stablecoin Transactions Skyrocket, Outpacing Ethereum
TL;DR
TRON DAO leads in stablecoin transactions on Orbital with 97.62%, far surpassing Ethereum with only 2.12%.
The TRX network stands out in Tether (USDT) transactions, handling more than 50% of the total USDT issuance and 38.6% of all stablecoin transactions in the last 30 days.
Despite the TVL difference with Ethereum, TRON has secured a solid second position with $7.73 billion.
TRON DAO has consolidated as the indisputable leader in stablecoin transactions on the Orbital platform, far surpassing its competitors. With 97.62% of the total transactions, it has left Ethereum, which holds the second position with only 2.12%, far behind.
TRON, founded by Justin Sun, has achieved this feat thanks to its focus on scalability and cost efficiency, characteristics that have been enough to attract a large number of companies and users. In particular, the network stands out in Tether (USDT) transactions, the most used stablecoin in the world. More than 50% of the total USDT issuance takes place on its platform. In fact, USDT addresses represent 38.6% of all stablecoin transactions made in the last 30 days.
#TRON is not just leading the stablecoin market but also transforming how businesses operate globally.
Share of Stablecoin Transactions by Blockchain on Orbital:#TRON : 97.62%#ETH: 2.12%#SOL: 0.21%#BNB: 0.05%#MATIC : 0.01% pic.twitter.com/ciyfyO41cV
— TRON DAO (@trondao) July 2, 2024
TRON: Efficiency and Minimal Costs
Despite Ethereum remaining the largest blockchain ecosystem by Total Value Locked (TVL), with 64.02% and $58.06 billion, TRON (TRX) has consolidated a strong second position with a TVL of $7.73 billion. The substantial difference in TVL has not prevented the ecosystem founded by Sun from becoming the leader in transactions, demonstrating the efficiency of its infrastructure and its capacity to handle a large volume of transactions.
Other competitors like Solana, Binance Smart Chain, and Polygon have a much smaller presence in the stablecoin market. Solana and Binance Smart Chain have shares of 0.21% and 0.05%, respectively, while Polygon, although in fifth place in terms of stablecoin transactions, ranks ninth in TVL with $862 million.
TRX’s dominant position is based on its ability to serve as a reliable and efficient payment method. Its platform has been designed to handle large volumes of transactions with much lower costs compared to other blockchain networks, making it an attractive option for companies looking for scalable payment solutions.
Filed under: News - @ July 3, 2024 2:25 pm