Nearly two years after adding USDT to BlockchainTron.
Tron-based “USDT” coins have outperformed their Ethereum counterpart for the first time.
With this, Tron has reached an important milestone by bypassing Ethereum as the network with the most USDT on it.
As of now, more than half of the traded Tether is trading on the Tron blockchain.
“TRC-20 USDT” outperforms “ERC-20 USDT”:
In 2019 it was announced the partnership between TRON and Tether, the last company behind the largest stable digital currency.
The launch of the Tron blockchain came as a diversification of the Tether presence networks, which was mainly using the Ethereum blockchain at the time.
Two years later, the amount of USDT in circulation on Ethereum was no longer dominant.
The Tether Transparency web page reveals that the total declared USDT on Ethereum is approximately $ 23.4 billion.
Meanwhile, the declared amount of the most used stablecoin on TRON has grown to around $ 24 billion.
In other words, the Tron blockchain holds the largest amount of USDT tether.
As expected, “Justin Sun” was quick to shed light on the “historical moment” and referred to it through his personal account on Twitter.
Over time, Tether has also expanded its stable currency to include other networks.
Currently, the “OMNI” blockchain is ranked third in the number of Tether coins in it, followed by the Solana blockchain with $ 190 million, “EOS” with $ 70 million, “Liquid” with $ 16.5 million, and “Algorand” with $ 14 million.
USDT TRON transactions achieve record numbers:
Months ago, the number of USDT-based TRON transactions exceeded those based on Ethereum.
Data from “CoinMetrics” shows the progress of daily transactions since the launch of “TRC20 USDT” in 2019.
As the above chart shows, “ERC20 USDT” dominated for the majority of the year and a half from the emergence of “TRC20 USDT” but the situation changed in early 2021.
Users may have fled the high Ethereum fees, as users began using the Tron blockchain for more USDT transactions.
Consequently, the number of “TRC20 USDT” transactions has far exceeded those on the Ethereum network so far, which have decreased somewhat in the past few months.