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Tether (USDT) has reached a new milestone, recording 18 million transactions per week on Ethereum Virtual Machine (EVM) chains. Of these transactions, 78% occur on the Tron network, which also manages 84% of all USDT addresses.<img src="https://academy-public.coinmarketcap.com/optimized-uploads/2f86e1d63ff04e61916ba673135a39c5.png" />For the first half of 2024, Tether reported a significant profit of $5.2 billion and maintains over 70% of the market share.<img src="https://academy-public.coinmarketcap.com/optimized-uploads/a7a16b0eb95b402c919faefb9b9b59c1.png" /><h3 id="tether-hits-record-18m-weekly-transactions-on-evm-chains">Tether Hits Record 18M Weekly Transactions on EVM Chains</h3>Tether (USDT), the largest stablecoin, has achieved a remarkable milestone by <a href="https://cryptosheadlines.com/over-2-5-million-bitcoin-transactions-recorded-to-date/" rel="noopener noreferrer nofollow">recording over 18 million weekly transactions</a> on Ethereum Virtual Machine (EVM) chains, as noted by analytics platform IntoTheBlock. The data shows a consistent upward trend in <a href="https://cryptosheadlines.com/surge-in-usdt-transactions-in-brazil/" rel="noopener noreferrer nofollow">USDT transactions</a> over the years, culminating in this new high.<img src="https://academy-public.coinmarketcap.com/optimized-uploads/a176a3670ab6400db467a9c4d489cc8f.png" />A significant portion of these transactions, 78%, is taking place on the Tron (TRX) blockchain. This positions Tron as the leading platform for USDT transfers, surpassing other EVM-compatible chains.Additionally, the report reveals that there are currently 48 million addresses holding USDT on Tron, with 84% of these being Tron-based. This underscores Tron’s growing importance in facilitating USD accessibility through Tether.<h3 id="tether-usdt-sets-transaction-record-and-reports-strong-profits">Tether (USDT) Sets Transaction Record and Reports Strong Profits</h3><blockquote>Tether (USDT) has achieved a record-breaking 18 million weekly transactions this year, coinciding with its parent company’s impressive financial performance. Tether reported a substantial $5.2 billion profit for the first half of 2024, with a net operating return of $1.3 billion in Q2. This follows an exceptional return of $4.52 billion in Q1 amid a bull market.</blockquote>Despite a broader market downturn, USDT has demonstrated consistent growth, reaching new highs in July. The stablecoin is approaching a significant milestone of $120 billion in market capitalization and has achieved an all-time low in volatility throughout the month.<a href="https://cryptosheadlines.com/tap-away-aliens-and-earn-big-with-moontap-by-saving-the-planet/" rel="noopener noreferrer nofollow">Also Read: Tap Away Aliens and Earn Big with MoonTap by Saving the Planet</a><a href="https://cryptosheadlines.com/usdt-market-cap-reaches-record-high-binance-ceo-cz-acknowledges-with-busd-tweet/" rel="noopener noreferrer nofollow">USDT maintains a dominant position in the market</a>, holding over 70% of the market share throughout 2024, reflecting its continued stability and influence in the crypto space.<img src="https://academy-public.coinmarketcap.com/optimized-uploads/a7a16b0eb95b402c919faefb9b9b59c1.png" /><img src="https://academy-public.coinmarketcap.com/optimized-uploads/d47ceb1d9f0f46f087b0ed9344239f6b.png" />Important: Please note that this article is only meant to provide information and should not be taken as legal, tax, investment, financial, or any other type of advice.Join Cryptos Headlines <a href="https://linktr.ee/cryptosheadlines.com" rel="noopener noreferrer nofollow">Community</a>Follow Cryptos Headlines on <a href="https://news.google.com/publications/CAAqBwgKMLz3-wowvuzoAg" rel="noopener noreferrer nofollow">Google News</a>

Tether (USDT) Hits New Record with 18 Million Weekly Transactions

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