The Tron network has reached a significant milestone, surpassing a total supply of Tether (USDT) of $80 billion, leading to discussions on its impact on the price of the native token TRX.
Tron Hits $80 Billion in USDT Supply
According to the latest figures, the total supply of Tether (USDT) on the Tron network has reached an all-time high of over $80 billion. This spike was driven by two large Tether mints, both valued at $1 billion, completed within a few days. The growth in supply indicates a growing confidence and demand for USDT on the Tron network, currently outpacing PayPal's $39.2 billion in retained customer funds.
The Go-To Platform for USDT Transfers
Several factors have fueled this rapid increase in USDT use on Tron. A primary reason is the network's low transaction fees, which often cost just a few cents. In contrast, Ethereum can charge over $10 for the same transaction, making Tron an appealing option for traders and users in low-income regions. Additionally, the Tron network processes transfers in seconds, making it suitable for daily transactions.
Growing USDT Supply Sparks TRX Price Interest
It is noteworthy that as the supply of USDT on Tron increases, attention has shifted to TRX, the network's native token. Market data shows that the TRX price was trading at $0.2722, representing a 2.24% increase over the past 24 hours. Analysts believe that the surge in stablecoin demand might be positive for TRX, particularly if network demand continues to grow.
In conclusion, the record supply of Tether on the Tron network reflects increasing trust and demand for the platform, despite potential risks and regulatory changes.
