In a twinkle of an eye, the circulating amount of Tether (USDT) issued on the TRON Network (TRC20) has surged significantly, staying over $350 million.
Huobi, a reputable crypto exchange, has received around 300M TRC20-USDT deposits in just 65 hrs.
As at the time of writing, the amount of stablecoin on the TRON ecosystem is now equal to $364 million. In the last two weeks, the total number of the stablecoin on the network was around 170 million.
👀Did you say 300M?
🔥Huobi x TRC20-USDT Bonanza has reached 300M deposits in 65 hrs!🔥
Deposit TRC20-USDT today to join in on the rewards!
— HuobiGlobal 🌏 (@HuobiGlobal) October 24, 2019
The speedy growth could be liken to the present TRON and Huobi Global Bonanza, earlier captured by NewsLogical.
It is two days after the launch of the bonanza, extracted data from Huobi indicates that the total deposit of TRC20-USDT reached 154,047,198.30 TRC20-USDT, and the total rewards reached 78,872.17 USDT. The rewards have now reached 20,002 on the exchange.
In the same line, a heavy chain-swap of $30 million from USDT-ERC20 to USDT-TRON happened.
TRON’s Justin Sun has enjoined that anyone willing to convert their USDT to USDT-TRON make use of Poloniex, a prominent cryptocurrency exchange, increasing the rumour that Justin Sun is planning to acquire the cryptocurrency exchange
However, to Justin Sun, converting Omni-$USDT & ERC20-$USDT to TRC20-$USDT on Poloniex is “safe and super fast”.
Against the background of this story, NewsLogical reported that TRON Foundation’s Medium account was abruptly closed down over alleged violation of the blog’s policy.
However, medium has not responded beyond claiming the account either violated its rule or going through normal investigation. What is surprising is that Medium is trying to censor posted information on the platform, but it is still not clear if the attack is targeted at cryptocurrency platforms.
Today, to circumvent the sudden closure, TRON posted an update regarding the Huobi Global promotion on TRON Foundation Russia’s Medium page, signifying that the account is still under lock.