TRON Hits Record $587.2B USDT Transfer Volume

TRON has reached an all-time high in USDT transfer volume, processing $587.2 billion in November 2024. This milestone highlights the blockchain’s growing prominence in the global stablecoin ecosystem and its appeal as a cost-effective network for transactions.

TRON’s Dominance in Stablecoin Transfers

TRON’s remarkable USDT transfer volume marks a significant leap from $489.3 billion in October and $424.4 billion in September. CryptoQuant analyst Maartunn observed this record-breaking surge, noting the steady growth since the network’s modest $73.8 million USDT transfer volume in July 2019. By March 2024, TRON had processed $462.6 billion in USDT transfers, underscoring its continuous expansion.

Additionally, TRON achieved its highest number of USDT receivers in October 2024, reaching 10.6 million users. Despite a slight drop in senders to 9.2 million in November, the network remains a leader in stablecoin activity due to its low fees, fast processing times, and affordable remittance services.
TRON’s native token, TRX, has also benefited from this growth, rising over 160% in the past year. At the time of writing, TRX trades at $0.2912, up 3.3% in 24 hours, outperforming the broader crypto market with a 10.7% weekly gain.

Can TRON Maintain Its Edge?

While TRON dominates in USDT transfer volumes, Ethereum is closing in as Tether recently minted $20 billion worth of USDT on its blockchain. Analysts predict Ethereum’s USDT supply could surpass $1 trillion by 2025, signaling intensified competition.

Meanwhile, TRON’s rapid expansion and consistent network upgrades position it as a key player in the crypto market, even as other platforms, such as Binance and Circle with USDC, vie for a share of the growing stablecoin landscape.

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