Tether （USDT） has achieved a record-breaking 18 million weekly transactions on EVM-compatible chains, with Tron accounting for the majority of these transactions.
Points
- Tether reached 18 million weekly transactions on EVM chains.
- Tron leads with 78% of USDT transactions and 84% of USDT addresses.
- Tether reported $5.2 billion in profits for H1 2024, maintaining over 70% market share.
Tether （USDT）, the leading stablecoin, has set a new record with 18 million weekly transactions on EVM-compatible chains, showcasing its dominant position in the cryptocurrency market. According to a report from IntoTheBlock, Tron （TRX） has emerged as the primary blockchain for these transactions, accounting for a staggering 78% of all USDT transfers. Additionally, Tron holds 84% of all USDT addresses, solidifying its role as the leading platform for USDT activity.
Tether’s Market Performance
Tether has reported impressive financial results, with $5.2 billion in profits for the first half of 2024. This performance has enabled Tether to maintain over 70% of the stablecoin market share, highlighting its critical role in the crypto ecosystem. The increasing transaction volume on EVM-compatible chains underscores the growing demand for stablecoin transactions in the decentralized finance （DeFi） space.
Tron’s Dominance
Tron’s dominance in USDT transactions is a testament to its efficient and low-cost infrastructure, which appeals to users looking for fast and affordable transaction solutions. The blockchain’s ability to handle a high volume of transactions with minimal fees has made it the preferred choice for USDT transfers.
Broader Implications
The record-breaking transaction volume highlights the increasing adoption and utility of stablecoins like USDT in the crypto market. As DeFi continues to grow, the demand for stable and reliable digital assets for transactions and value storage is expected to rise.
解説
- Stablecoin Utility: Tether’s record transaction volume on EVM-compatible chains underscores the vital role stablecoins play in the crypto market, providing liquidity and stability for various transactions.
- Tron’s Infrastructure: Tron’s ability to handle a high volume of transactions efficiently and affordably makes it a key player in the stablecoin ecosystem, attracting significant USDT activity.
- Market Impact: The impressive financial performance and transaction volumes of Tether indicate strong market confidence and reliance on stablecoins for DeFi and other blockchain-based activities.
- Future Growth: As the DeFi space expands, the role of stablecoins like USDT is expected to grow, driving further adoption and integration into various blockchain platforms.