In the past two months, Tether transactions have risen significantly. However, recently USDT transactions on the Tron network exceeded the number of Tether transfers on the Ethereum blockchain. Although there are many more ERC-20 based transactions, the stablecoin using the TRC20 standard has seen a much larger transaction count all year round.

 

 

Tether endures $ 25 billion

Tether (USDT) is used on a large number of exchanges as it is a dominant stablecoin and is paired with almost every digital asset with market cap. USDT has the third largest market value today with a valuation of $ 24.9 billion.

Market data over the past 24 hours shows that tether (USDT) saw $ 17 billion in global trade volume. In the early days, Tether was launched on the Omni Layer network, but over the past four years USDT tokens have been moved to other blockchains.

 

In 2021, USDT was mined on numerous chains, including Ethereum, Tron, Bitcoin Cash, EOS, Liquid, Solana, and Algorand. The vast majority were issued using Ethereum’s ERC20 standard, and these tokens have seen significant transaction numbers in recent years.

But this year was a different story as the number of Tether (USDT) transactions on the Tron network outperformed its ERC20 rival. Every day in 2021, the number of Tron-based tether (USDT) transactions (number of tx) increased even more.

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For example, data from Coin Metrics shows the last count three days ago, TRC20 received 247,000 transactions, while ERC20 received 179,000 transactions that day. Now, although TRC20 has a larger tx number, the total volume of ERC20 USDTs is still 2 times greater.

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