Tron’s TRC20-based stablecoin, launched in May 2019, has just saw an exceedingly high growth in the crypto market and the CEO of the blockchain project, Justin Sun, has said this is just a tip of an iceberg; TRC20 USDT will soon be the world’s largest stablecoin.
Just has BitTorrent witnessed quick surge in the ecosystem, USDT-Tron has started making huge inroads in the stablecoin ecosystem. According to a report shared by an avid Tron supporter and co-founder of Digital Asset Research, Greg Cipolaro, Tron’s dollar-pegged coin is now the fifth-largest stablecoin in the market.
Cipolaro said: “Crypto, we did it,” adding that stablecoin is now ranked above TrueUSD. The stablecoins were arranged based on the market capitalization of each dollar pegged coin.
Of the seven stablecoins listed as captioned by the Cipolaro, Omni USDT ranked 1st as the largest stablecoin with a market cap of over $2 billion. Ethereum based ERC20 USDT followed, and USDC and Paxos standard took the 3rd and 4th positions respectively.
TRC20 USDT ranked 5th with a $195+ million market cap, surpassing Ethereum-based USDC and DAI which had $187+ million and $84+ million market caps respectively.
Replying to the update, Founder Sun said: “TRC20 USDT will be the largest stablecoin in the world.”
Q3 Dapp Market Summary Rates Tron Blockchain Second Best
Data from Dapp.com Q3 Dapp Market Summary shared by CEO Justin Sun reveals that Tron is the second-best blockchain network in the third quarter of the year.
Behind Ethereum, Tron ranks second based on Dapp related activities performed on the blockchain network.
In the Dapp sector, Tron presented a significant data in Q3 with 47 new Dapps added to the network to make a total of 467. Also, a sum of 36.32M Dapp transactions were performed on Tron’s network in the third quarter.
Justin Sun furthered that more Dapps are underway from Tron, and the ecosystem will continue to grow.
According to @dapp_com's Q3 Dapp Market Summary- by Blockchain, #TRON ranked #2 with a total number of 467 #Dapps, 47 new Dapps, 105,853 new users, 36.32M transacations which is only behind #ETH. With more Dapps building on TRON, the ecosystem will be flourishing. #TRON onwards. pic.twitter.com/Ku9CR0UTrU
— Justin Sun (@justinsuntron) October 15, 2019