Tron’s USDT Supply Soars Nearly 1000%, Hits $62 Billion: Here‘s More ⋆ ZyCrypto
The post Tron’s USDT Supply Soars Nearly 1000%, Hits $62 Billion: Here‘s More ⋆ ZyCrypto appeared on BitcoinEthereumNews.com.
Advertisement     DeFi activities have picked up on several networks after increased stablecoin supply. TRON has become a major USDT hub with record volumes in the last four years. Stablecoins remain pivotal to gauging crypto market growth as the tokens are often referred to as gateway assets to institutional investors. Analysts Back Tron’s DeFi Volumes Tron’s USDT supply spiked to $62 billion from $6.7 billion in 2021, marking a staggering increase in stablecoin adoption. This heightened figure shows a major increase in stablecoin adoption attracting huge liquidity to crypto assets. Industry analysts also flag rising DeFi activities on TRON and other networks. This month, DeFi activities dipped as a result of the wider market downturn, which left traders cautious. Increasing sell pressure lowered sentiments with assets losing recorded in Q4 2024. Overall, most networks saw a decline in total value locked (TVL) alongside a plunge in trading volumes. Investors amass stablecoins because they serve as a bridge to DeFi tokens and are not volatile like other assets. “Comparing the growth of USDT supply on TRON’s TRC-20 protocol to Ethereum’s ERC-20 protocol highlights TRON’s recent dominance. In summary, TRON’s substantial increase in USDT supply and its growing role in the DeFi ecosystem reflect its rapid development and the increasing adoption of its blockchain platform. These trends suggest a promising future for TRON as a central player in the evolving landscape of decentralized finance,” CryptoQuant wrote. This also applies to the TON network, which recorded a decline in TVL amid present trading conditions. At the time of writing, the network’s TVL hit $171 million,n with daily volumes at $12.1 million. However, staking activities tapped new highs, suggesting more holders are shifting to earning yield on assets. Advertisement   Sinking Altcoins Can Limit DeFi Gains As investors look towards DeFi tokens and…
Filed under: News - @ February 20, 2025 4:22 am