Crypto_Market_Analyst

2023/11/06 04:17

TRON network is dominating the scene with our perf

Stablecoin Trends and the Tron Potential
Tron Network, founded by Justin Sun, is a protocol that supports stablecoin issuance. Over the past few years, it evolved as a dominant competitor to Ethereum, per stablecoin transaction activities.

According to the report, in 2022, stablecoins on networks surpassed $11 trillion in volume, with weekly figures ranging from $150 billion to $200 billion. This figure almost matches Visa’s transaction volume and makes up about 14% of the ACH and 1% of Fedwire payments. Of this humongous figure, Tron processes approximately $70 billion in volume weekly. 

Riding on this impressive stride, the protocol expressed confidence in its ability to hit $3.64 trillion in volume this year. Notably, Tether (USDT) makes up the biggest traction of stablecoins operating on Tron. However, Tron has dabbled into other stablecoins in recent times.

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