Tether (USDT) 24-hour trading volume reached $53 billion on the TRON network, surpassing payments giant Visa’s average daily trading volume of $42 billion in Q1 2024.
This comparison is especially important because Visa is one of the world’s largest payment processors, managing billions of transactions across more than 200 countries and regions.
Lookonchain has highlighted the rapid growth in value and usage of USDT on TRON in tweet Latest:
“The 24-hour trading volume of USDT on Tron is $53 billion, exceeding Visa’s average daily trading volume. Visa’s transaction volume in Q1 2024 was $3.78 trillion and average daily transaction volume was $42 billion.”
The 24-hour trading volume of $USDT on #TronNetwork is $53B, exceeds Visa’s average daily trading volume.
Visa’s trading volume in Q1 2024 was $3.78T and the average daily trading volume was $42B. pic.twitter.com/jolGKIUcxE
— Lookonchain (@lookonchain) June 21, 2024
It is important to note that USDT on the TRON network recorded over 45.5 million holders and total transfers exceeded 1.8 billion during the same period. Interestingly, the top 10 USDT holders on TRON own 27.69% of the total supply on the network, holding 16.56 billion USDT.
Source: TronScan
The latest development reflects a broader trend of growing demand for stablecoins like USDT amid the cryptocurrency market downturn.
Meanwhile, USDT trading volume on the TRON network has been steadily increasing since January 2023. Averaging around two million transactions almost daily since February, this upward trend has also continued into the year. 2024.
For instance, TRON’s weekly USDT volume reached a whopping $110 billion in just the first week of April. This is double the amount settled on rival blockchain Ethereum, thereby highlighting the Investor’s direction towards TRON.
Itadori
According to CryptoPotato
