Recent analysis by Joao Wedson dives into the competition between Ethereum and Tron blockchains regarding USDT supply and its relation to Bitcoin prices.
USDT Supply Growth on Ethereum
According to Wedson, from 2019 to 2023, the USDT supply ratio between Tron and Ethereum increased from 0.3 to over 1.0, indicating significant momentum for Tron due to its lower transaction fees.
Comparison of USDT Supply on Tron and Ethereum
Wedson noted that starting in 2021, Tron's USDT supply surpassed Ethereum's for the first time, coinciding with BTC's peak at $64,000. Initially a leader, Ethereum lost some advantage as Tron surpassed $60 billion in supply in 2022.
Impact of BTC on USDT Volumes
Wedson concluded that increases in USDT supply on both platforms generally relate to BTC price rises. It is essential to note that Ethereum continues to appeal to investors due to its DeFi infrastructure, particularly during market volatility.
Wedson's analysis highlights the dynamic competitive landscape between Tron and Ethereum, pointing out significant changes in USDT volumes that may influence future investment decisions.
