USDT, the leading stablecoin, has set unprecedented records in 2024, surpassing 18 million weekly transfers on EVM chains. IntoTheBlock, a cutting-edge AI-powered financial platform for DeFi and institutional investors, highlighted this surge as a significant milestone for the prominent stablecoin. Taking to their official social media, IntoTheBlock detailed these developments.
Throughout the year, USDT has continuously shattered records with over 18 million weekly transactions on EVM chains. A substantial 78% of these transactions are executed on the Tron network, solidifying its status as the preferred platform for transfers.
IntoTheBlock reported in its latest update that the majority, seventy percent, of these transfers occur on the Tron network, underscoring its appeal for transactional purposes. Tron operates as a stablecoin with minimal fees and reduced price volatility, factors contributing to its widespread adoption and popularity in transaction volumes.
Furthermore, IntoTheBlock noted that a significant ninety-four percent of USDT’s total value is secured within the Tron ecosystem. This robust integration has bolstered USDT’s market capitalization, which reported a substantial $5.2 billion profit in the first half of the year.
USDT has emerged as a leader in the stablecoin market growth, particularly following the crash of Terra’s UST, reaching a market capitalization of $120 billion. This growth underscores USDT’s dominance and resilience within the stablecoin sector, as noted by IntoTheBlock.