2020 was a record-breaking year for the Tron Open Network, as the network saw a massive extension into Defi, amassing millions of new users along the way. Tron has seen a string of integrations and acquisitions that have moved it to new heights as it currently serves the world’s biggest distribution network for file sharing, gambling, trading, and entertainment.
The Tron network had more than 1.3 billion transactions in 2020, with over 16 million wallets set up on the network. Tron-based dApps also expanded unprecedentedly as more than 1,400 dApps were generated on the network, with an average of more than 100,000 active users per day and a daily transaction value of more than $12 million.
Tron also became a powerhouse in USDT issuance when the blockchain housed a variety of stablecoins that exploded in value on its network. Tether is one of those stablecoins (USDT). Tether (USDT) is one of the most common USD-backer stablecoins on the Tron network and has been one of the fastest-growing stablecoins since the end of 2020.
There are several variations of tokenized Tether properties, including the initial Omni-based Tether on various blockchains such as Ethereum, Liquid, and EOS, and while all of these blockchains provide much the same item, Tron has emerged as the first name and is considered the fastest-growing blockchain for USD issuance.
Tron currently claims more than $6.6 billion worth of Tether (USDT) on its blockchain and has no fewer than 300 thousand USDT transactions per day. The sum of USDT distributed on the Tron blockchain last year went from $1 billion at the beginning of the year to $6.6 in December, hitting its highest ever value in 2020.
Many explanations come to play with respect to Tether’s fantastic development on the Tron Blockchain, but a couple of them stand out as significant contributors to the rise of the stablecoin. Transaction speed is very vital in the blockchain industry and the Tron blockchain promises lightning-fast transfers relative to similar blockchain networks. USDT Investors looking to transfer money quickly have now resorted to the blockchain as transfers are validated in just a few seconds.
USDT payments on the Tron network are free, saving investors exchange costs of up to $9 while converting USDT to the ETH blockchain.
This has added to the thousands of daily purchases of the Tron Network, making USDT-TRON the most commonly used stablecoin.
Tron’s DeFi pool has already seen massive changes over the past few months, including landing ventures such as JustLink, JustLend, JustSwap, and several more that have rewarded investors with tremendous interest over the last six months.
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