With all of the speculation about the future growth of cryptocurrency protocols, it can be difficult to accurately measure the size and health of the underlying network.
Among the basics that are used to measure the network and its strength:
Adoption and user dependence on the network, which is reflected in the volume of transactions.
Looking at BlockchainTron and the transactions based on it, we find that Tether currency transactions have a strong presence on BlockchainTron.
BlockchainTron takes Tether to a new record high:
Stable digital currencies are extremely beneficial because they provide the same functionality as volatile cryptocurrencies in terms of P2P transactions while mitigating the risks associated with price volatility in general.
USDT started on the “Omni” blockchain, which was in turn based on the Bitcoin blockchain, before moving to the Ethereum blockchain.
It is known that the Ethereum blockchain supports decentralized applications and decentralized financing, which means that Tether’s move to build its stable digital currency is a smart move, as it benefited from the massive adoption of the Ethereum blockchain by the decentralized financing protocols.
Currently, Ethereum, which has a market value of roughly $ 200 billion, manages approximately 2.5 million USDT stablecoin.
Tron, whose scalable architecture supports much lower transaction fees, has 1.8 million USDT holders, despite its market value being estimated at 1% Ethereum.
You see and keep crushing the numbers:
Looking at the USDT coin, which is the largest stable digital currency in the market, it has almost more than $ 100 billion in daily transactions volume, the total market value of the Tether coin is more than $ 26.6 billion.
You see it has the lion’s share of these transactions as it does its share of heavy leverage for stablecoin transactions.
TRON manages more than $ 8.5 billion worth of the total stable digital currencies market value of $ 38.11 billion.
Even when ignoring the other stablecoins operating on the TRON network, users’ holdings of USDT represent more than a fifth of the entire sector.
With Ethereum fees soaring to an all-time high, with the average fee exceeding $ 20 per transaction for the first time in history, users are looking for alternative ways to store and transfer value.
Rising total transactions on the Tron blockchain:
Although the number of daily transactions on the TRON network has not yet reached its peak of over five million transactions per day in mid-2019, it has been in a noticeable upward trend since its inception.
The number of transactions on BlockchainTron reached its lowest level in recent times as the volume decreased to around 800,000 and then rose to its current level of 3.5 million daily transactions.
As USDT continues to gain more users who in turn are flocking to TRON to take advantage of the lower fees.
Therefore, the greater the number of users and holders of a stable digital currency, the more in favor of Tron, which has a large share in Tether transactions, as mentioned above.
The TRON project appears to have become the cornerstone of stable digital transactions and currencies, and the use of its network could expand to include more stable digital currencies and decentralized trading platforms …