Ethereum

Chains

Coin

<ul class="news-points"> 
 <li>Tether (USDT) reaches a record 18 million weekly transactions on EVM chains.</li> 
 <li>Tron accounts for 78% of USDT transactions and holds 84% of USDT addresses.</li> 
 <li>Tether reports $5.2 billion in profits for H1 2024, maintaining over 70% market share.</li> 
</ul> 
The largest stablecoin, <a href="https://coinedition.com/usdt-supply-increase-and-bitcoin-price-is-there-a-correlation/">Tether (USDT),</a> has continued to achieve record-breaking performance this year, with over 18 million weekly transactions on Ethereum Virtual Machine (EVM) chains alone. Analytics platform IntoTheBlock highlighted this milestone in a recent update. 
Notably, the graph accompanying the <a href="https://x.com/intotheblock/status/1819765735758897247" target="_blank" rel="nofollow">update</a> shows a steady uptrend in USDT transaction counts over the years, culminating in the recent record of 18 million weekly transactions. 
Furthermore, the report from IntoTheBlock revealed that a staggering 78% of these transactions are occurring on the Tron (TRX) blockchain. This makes Tron the leading platform for USDT transfers, outpacing other EVM-compatible chains. 
<div class="wp-block-image"> 
 <figure class="aligncenter">
 <img decoding="async" src="https://lh7-rt.googleusercontent.com/docsz/AD_4nXdGZ0LkKj9ToJDQkCHt5ucgHAJxZq2Z_x_c1iIeV4dG4YKWKgZlMDQURsi-KAEDfrloRDopzNpcDE2FQFQ9xvVt2QzqLmeVoqS5pDOH4HVFYvqY4XXxWtyz8GEr-e2SOMW3Iu2YNd3XGBxzPnqRA0VZj3IH?key=VMBeHGeh8_HOAhHQH4Bt5A" alt="">
 </figure>
</div> 
Moreover, IntoTheBlock <a href="https://medium.com/intotheblock/usdt-pushes-stablecoin-market-to-2-year-highs-dd8350d01a8f" target="_blank" rel="nofollow">data</a> revealed that there are currently 48 million addresses holding USDT across Tron’s ecosystem, with a significant 84% of them being Tron-based. As a result, the report stressed Tron’s significance as a platform for expanding …
The post <a href="https://coinedition.com/tether-usdt-breaks-records-with-18m-weekly-transactions-on-evm-chains-led-by-tron/">Tether (USDT) Breaks Records with 18M Weekly Transactions on EVM Chains led by Tron</a> appeared first on <a href="https://coinedition.com">Coin Edition</a>.

Tether (USDT) Breaks Records with 18M Weekly Transactions on EVM Chains led by Tron

Coin Edition

Other articles published on Aug 4, 2024

France Initiates MiCA Licensing for Crypto Asset Providers

Crypto market’s weekly winners and losers – AAVE, XAUT, WIF, PYTH

Solana Memecoin Trump vs SEC Will Skyrocket Over 19,000% Before Exchange Listings, While SHIB and...

Stacks Future: Faster, Secure Transactions with Nakamoto Upgrade

WazirX Ditches ‘Socialized Loss’ Strategy After Community Uproar

Rollblock To Become Market Leading Crypto By 2027 As Presale Hits $1.7M Mark, Can Solana (SOL) & ...

Join our free newsletter for daily crypto updates!