Almost a third of Tether’s $17B USDT sits on TRON

With $5.1 billion of that market cap passing through TRON blockchain, the network sums up an aggregate of 22 million transactions in USDT.

By · Nov 10, 2020 . 5min read

Tether USDT sits on TRON latest news

TRON network a public blockchain by Justin Sun has seen increased user activity across various metrics, one of which is Tether’s USDT. Tron Foundation recently tweeted that about $5.1 billion USDT currently sits on TRON network.

Tether has grown massively in 2020. It started the year with a $4.1 billion valuation and has since increased to $17.2 billion. This is more than a 400% increase within a year—clearly, an exponential increase in market capitalization.

With about $5.1 billion of that market cap passing through TRON blockchain, the network facilitated at least 22 million transactions in USDT.

Almost a third of Tether's $17B USDT sits on TRON
Source: TRON Scan

Although Ethereum holds the larger part of USDT, the fact that TRON facilitated about $5.1 billion worth of transactions in 22 million counts is a massive achievement for TRON.

TRON categorizes tokens on its network as TRC-20 copying Ethereum’s ERC- 20 nomenclature. The network boasts of 1.3 billion transactions since its creation in 2017. And more than 13.8 million accounts transact using TRON blockchain. With a current market cap of $2.5 billion, TRON facilitated at least $675 million transactions with the last 24 hours. An impressive figure for any public blockchain by any standard.

More than 1 million addresses hold Tether’s USDT on TRON.

As at press time, 1,317,994 addresses hold USDT TRC-20. Of these addresses, 5 of them hold more than 60% of the entire $5.2 billion USDT TRC-20. Of the first the five addresses, the top holder has over 41.2 billion, representing 23.6% of the entire supply while the second top holder holds precisely $1 million. That will be about 19.4% of the TRON’s total USDT supply.

The remaining three of the top five TRC-20 USDT addresses houses $408.2 million, $284.5 million and $250 million respectively. Equally, these represent 7.9%, 5.5% and 4.8% respectively of the total supply of USDT on TRON.

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