Tron hits 400k addresses for USDT on its blockchain

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Last Updated on 3 July 2022 by CryptoTips.eu

Jeroen Kok

Jeroen is one of the lead copywriters on Cryptotips.eu and discusses all recent events in the crypto market. This includes news updates, but also price analyzes and more. He developed his passion for cryptocurrency during the bull run in 2017. He has learned a lot since then. The combination of cryptocurrency and creative writing is perfect for Jeroen and an excellent way to share his knowledge with a wide audience. Find me on LinkedIn / [email protected]
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Tron CEO Justin Sun has revealed that his blockchain platform has reached 400,000 USDT addresses. Revealing this in a tweet today, Sun posted an image which showed the total token details of USDT on its blockchain.

In a broad overview, the total circulating supply of USDT on the Tron blockchain is $2,712,882,942 with the total amount of 404,563 addresses. This is quite impressive with Bitfinex only just starting to issue USDT on TRON in 2019.

Sun is known for his eccentric nature but the adoption of USDT on his platform has been a masterstroke with TRON benefiting massively. There has been an increasing shift by crypto users towards TRX USDT due to the speed of transactions and reduced.

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Tether continues to be the most popular stable coin despite criticism

Tether is the biggest stable coin in the market and is typically used by users in areas where it is difficult to buy Bitcoin directly. The stable coin is very popular in China where traders use it to purchase Bitcoin due to the government restrictions.

Despite its popularity, USDT has also had its controversies with several critics claiming that it is used by Bitcoin whales to pump BTC. There is a sentiment that the 2018 rise of Bitcoin was influenced by the increasing printing of Tether.

Other critics have also expressed their dissatisfaction with the mechanism behind Tether as they claim that it is no different to the Bank of America. This is due to the amount of Tether being printed daily by its treasury which is sometimes not equal to the demand of the market.

Nevertheless, it is the stable coin of choice for a large majority and is currently ranked third on the coin rankings with a market cap of $9 billion.

Tron Price

Tron (TRX) is currently valued at $0.017 as at the time of publication and ranked 16th on the coin rankings according to Coinmarketcap. Tron has experienced a gain of 6.5% in the last 24 hours with the crypto market generally bullish.

The blockchain platform is one of the most marketed projects in the crypto space and has a large active community. This latest milestone for the coin could help continue the current bullish trend and push Tron into the top 10 coins based on market cap.