Community Ecology | TRC20-USDT issuance exceeds 60 billion, and the dominance of TRON stablecoin continues to strengthen
On July 15, the issuance of TRC 20-USDT increased to 60.8 billion, breaking the 60 billion mark for the first time in history. Since 2024, TRC 20-USDT has cumulatively issued nearly 12 billion. The explosive growth not only demonstrates its strong demand, but also further consolidates TRON's leading position in the stablecoin field. In this regard, TRON founder Justin Sun said on social media that this is an important milestone, and TRON has thus become the first blockchain with a single stablecoin market value exceeding 60 billion US dollars.
TRC 20-USDT is a stablecoin pegged to the US dollar issued by Tether based on the TRON network. It has been popular among crypto users since its launch in April 2019. In April 2021, the issuance of TRC 20-USDT reached 23.9 billion, surpassing the Ethereum version of USDT for the first time, officially opening the era of TRON dominating the stablecoin market. Since then, the issuance of TRC 20-USDT has continued to set new highs and exceeded 50 billion in January 2024. As of now, the number of TRC 20-USDT holding accounts exceeds 47 million, and the cumulative number of transfers has reached 1.85 billion, playing an important role in value circulation worldwide.
As an excellent use case for the mass popularization of blockchain and its benefits to real life, TRC 20-USDT has become the first choice of stablecoin for hundreds of millions of users. Orbital, a British blockchain payment platform, recently published a blog post detailing the importance of USDT payments on TRON in emerging markets. The article mentioned that TRON is far ahead in USDT transaction volume, and up to 97.62% of stablecoin transactions on Orbital occur on the TRON blockchain. Users in emerging markets are also firmly supporting USDT transactions on the TRON blockchain.
Currently, in emerging markets such as Brazil, Argentina, and Turkey, TRC 20-USDT has become an increasingly important payment method in people's daily lives. In 2022, TRON was officially designated as a national blockchain infrastructure by Dominica, and seven TRON-based tokens such as TRC 20-USDT enjoy the same rights and interests as legal tender in the country. In addition, TRC 20-USDT has also been widely used in financial trusts, legal tender exchange, communication transfers, travel settlements, and cross-border payments. More and more mainstream platforms such as Telegram, Uquid, and Pundi X already support TRC 20-USDT.
“If we succeed in one use case (such as TRON’s USDT), we should focus our resources and strive to do better in this area.” As Sun Yuchen said, as an important stablecoin infrastructure, TRON has built a stablecoin landscape consisting of USDT, TUSD, USDD, USDC, USDJ, and offshore RMB stablecoins CNH₮ and TCNH. As of now, the total market value of stablecoins on the TRON chain has reached US$61.9 billion, ranking second among the global public chains.
With the mission of building a Metaverse Financial Free Port and promoting financial inclusion, TRON will leverage the advantages of a secure and efficient underlying blockchain to continue promoting the large-scale adoption of stablecoins around the world and bring more convenience to users.
