According to data from the X account Lookonchain, the 24-hour trading volume of tether on the Tron network has surpassed Visa’s average daily transaction volume. Additionally, despite a general downturn in the crypto economy, tron ( TRX) has achieved a 2% gain against the U.S. dollar over the past week.
Tron’s Tether Volume Competes With Visa’s Daily Transactions Amid Crypto Slump
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Tron Network’s USDT Volume Hits $53 Billion: Lookonchain Stats
On June 21, the X account Lookonchain, which shares onchain data and metrics, reported that the 24-hour trading volume of tether ( USDT) on Tron exceeded $53 billion. This figure surpasses Visa’s average daily transaction volume of $42 billion in the first quarter of 2024.
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Screenshot via Lookonchain’s X post.
Currently, 59 billion tethers ( USDT) are issued on the Tron network, according to Tether’s transparency page. As of June 21, 45,546,883 unique addresses are holding the Tron version of USDT. The top ten holders account for 27.57%, while holders ranked 11-50 account for 6.14%. The 45.54 million TRC20-based tether holders significantly outnumber the 5,724,266 ERC20-based tether holders.
Meanwhile, Tron’s native cryptocurrency, tron (TRX), has resisted the broader downturn affecting the crypto economy this week. TRX is up 1.7% over the last day and 2% over the past week. Over the past two weeks, tron has risen 3.2% against the U.S. dollar. This resilience comes as many digital assets have fallen by 5% to double-digit percentages in the past week. Despite the summer slump, Tron, along with its TRX and TRC20-based USDT activity, continues to stand out.
What do you think about the tether action on the Tron network? Share your thoughts and opinions about this subject in the comments section below.
