Analysis shows Tron is becoming a leader in the stablecoin market, competing with Ethereum. What does this mean for Tether transactions and system development?
Tether's No-Fee Transactions on Tron
Arkham Intelligence reported that Tether minted $1 billion worth of USDT stablecoins on the Tron network without any fees. The transaction was identified on November 14 and involved a transfer from a Tron 'black hole address' to Tether’s multisignature wallet.
Tron's Rising Market Influence
Despite its smaller ecosystem, Tron rivals Ethereum in USDT issuance with $62.7 billion compared to $62.9 billion. This is confirmed by Tether’s transparency page, highlighting Tron's $577 million revenue from stablecoin activities in Q3 2024.
Plans for New USDT Issuance
In August 2024, Tron added another 1 billion USDT. Tether CEO Paolo Ardoino stated that the tokens were 'approved but not issued' and will remain in inventory until a new issuance request is made and trading begins on the open market.
Tron continues to strengthen its position in the stablecoin market thanks to attractive fees and active token issuance, potentially paving the way for payment systems in countries where high fees create barriers to economic activity.
