TRON-based Stablecoin monthly transfer volume has reached the level of PayPal’s quarterly payment volume, Justin Sun’s global settlement layer is coming

0


NEW YORK–(COMMERCIAL THREAD) – The crypto world has been in the spotlight since the US government approved the first Bitcoin ETF, with a myriad of jaw-dropping trending concepts vying for more users and funds. As the entire industry reaches new heights in size and influence, stablecoin, the “holy grail in the crypto world”, known for its role as a benchmark of value, influx of traffic and risk avoidance, has also experienced unprecedented growth this year.

A good example is that of stable coins based on TRON. As the undisputed leader in the stablecoin sphere, they have recently been in full swing. According to statistics from official TRON blockchain explorer, TRONSCAN, TRON-based stablecoin transfer volume was $ 19.93 billion on November 30, reaching a record high since June and on track to surpass $ 20 billion mark. TRON founder Justin Sun also praised the effectiveness of TRON’s stablecoins on his social media account.

For people who don’t necessarily understand what this number means, a simple comparison can be helpful. The leading US payment provider PayPal is known as the benchmark in the traditional payments industry. With up to 400 million users worldwide, it’s a force to be reckoned with when it comes to cross-border transfers. According to the latest financial report, PayPal posted a total payment volume of $ 310 billion in the third quarter of 2021, which translates to a daily payment volume of $ 3.37 billion. Over the past few weeks, the TRON-based stablecoin has seen a daily transfer volume of $ 8 billion or even $ 10 billion, several times that of PayPal. Put simply, it would only take TRON less than a month to hit PayPal’s quarterly payment volume.

In addition, TRON also outperforms Ethereum in terms of traffic volume, number of unique addresses, and daily transfer volume. Specifically, the number of unique addresses of TRC20-USDT has now reached 8.5 million, which has doubled in six months and continues to grow rapidly. In addition, the daily transfer volume on TRON kept its performance stable at over one million. It’s also worth noting that TRON is the public channel that hosts Tether’s extra show the most frequently, with TRC20-USDT’s broadcast volume reaching a record $ 38.9 billion.

So what caused TRON to flourish in stablecoin? The intrinsic merits and overall strategy of TRON-based stablecoin are the main drivers. Apart from that, TRON’s efforts in GameFi, metaverse, and NFT have driven on-chain demand for TRON, increasing the transfer volume of its stablecoins.

Backed by its underlying technologies which improve the safety, cost and efficiency of the chain, TRON has in fact been the most financially inclusive in the industry. Thanks to this, the transparent and secure TRC20-USDT with its near zero transaction fees and instant transfers has now become the most popular stablecoin after more than two years of development. According to official TRON data, it costs less than $ 800,000 in fees for a $ 20 billion transfer, an efficiency that traditional payment methods can only appreciate and other crypto players can hardly approach.

Additionally, despite USDT, the industry’s # 1 stable coin, TRON has not slowed its expansion in this area. After deploying TUSD and USDJ, TRON has built a strong fleet of four major stablecoins: USDT, USDC, USDT, and TUSD, with the most popular USDT and USDC leading the way, and TUSD and USDJ ensuring compliance and decentralization.

With unique advantages in terms of high-level solid design and a huge user base, as well as incremental support for more exchanges, TRON’s turbo growth in the stablecoins business is not by no means an overnight success. TRON’s recent development in various fields has also contributed to its growing on-chain demand and stablecoin transfers.

Watching GameFi, which has been most popular recently, Justin Sun, who is known for not missing any hot topics, kicked off a high-profile horse racing game, echoing his previous “all in GameFi” announcement. The lively discussions about WIN NFT HORSE, the first GameFi project in the TRON ecosystem, on major social media platforms attest to its popularity. Additionally, its 10,000 mystery boxes were sold within seconds of launching on the Binance NFT platform last week. At present, its total sales have exceeded TRX 61 million. With the official launch of WIN NFT HORSE on Binance, this phenomenal on-chain P2E game will bring more new users to TRON and fuel its stablecoin ecosystem.

In addition, Sun’s major advancements in NFT are also helping to expand TRON’s presence in this area. Over the past week, Justin won the auction for Le Nez, a work by iconic Swiss surrealist sculptor Alberto Giacometti, for more than $ 78 million, then bought the BAYC Tron Ape avatar # 6666 Joker with TRX d ‘worth $ 15 million. BAYCTron, which must be connected to the TronLink wallet before users can use it, is another NFT project on TRON after Tpunk and Tron Meetbits. Its success has dramatically increased the on-chain demand and transfer demand for TRON.

TRON has also made further advancements in the metaverse arena, which is sweeping the blockchain industry, the tech circle, and even the entire world. Last week, TRON’s ecological architectural complex, designed and built by MetaEstate, was officially completed at Cryptovoxels, allowing TRON to showcase its all-new image and brand in the metaverse. Most importantly, it demonstrates TRON’s abilities to rapidly deploy into the hottest areas of the industry and gain a foothold in the metaverse area.

With TRON leading the early-stage realms that many gamers are still exploring, it’s no surprise that TRON-based coins have blown the doors of everything else. Justin Sun’s ambition obviously goes beyond a single-day transfer amount of nearly $ 20 billion, and he’s aiming for $ 30 billion, or even $ 50 billion in the future!


Share.

Comments are closed.