ThemarketcapofTether($USDT)hassurpassed$120billion,accordingtodatafromLookonchain.Currently,thereare120.17billion$USDTincirculation.Thismarksasignificantmilestoneforthepopularstablecoin.Thisisanimportantstepforoneofthemostwidelyusedstablecoins.
The$USDTmarketcapexceeds$120billion!
Thecurrentcirculationof$USDTis120.17B$USDT,ofwhich61.49B$USDT(51.17%)iscirculatingon#TronNetworkand54.48B$USDT(45.34%)iscirculatingon#Ethereum.https://t.co/5Mzl43My0Spic.twitter.com/UUpm8FM4vC
—Lookonchain(@lookonchain)October20,2024
TronSurpassesEthereuminTether($USDT)Circulation,LeadingStablecoinNetwork
Ofthetotalcirculation,61.49billion$USDT(51.17%)areincirculationonTronnetwork.Therestof54.48billion$USDT(45.34%)isontheEthereumnetworkatthemoment.Thisshowsthesignificantpositioneachofthenetworksoccupiesinthe$USDTtransfer.TronhasnowovertakenEthereumasthelargesthostof$USDTcirculation.Thatisremarkablebecauseformosttokens,Ethereumhasbeentheprimarynetworkuptothispoint.
Theincreaseduseof$USDTontheTronnetworkshowthatTronisgraduallybecomingpopularinthestablecoinmarket.TronismorepopularamongtradersandinvestorsbecauseitstransactionsareprocessedmuchfasterandforalowerpricethanonEthereum.However,Ethereumstilloccupiesthesignificantpositioninthecontextofstablecoins.ManydAppsarebuiltontheEthereumnetworkmeaningthatitisacriticalplatformfor$USDT.
$USDTHits$120B,CementingItsPositioninCryptoMarket
Thisshowsthat$USDTcontinuestoplayacrucialroleinthecryptocurrencymarketgiventhehighercirculationaroundtheworld.$USDTforinstanceisutilizedintrading,transferringvalueandasastabledigitalcurrency.
As$USDT’smarketcaprisesbeyond$120billion,asperLookonchaindata,morepeoplestilltrustitanduseitasoneofthemostpopularstablecoinsinthecryptomarket.So,asthedemandforstablecoinscontinuestorise,theuseof$USDTinthecryptocurrencymarketshouldincreaseaswell.
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