Tether USDT on TRON’s network has grown to over 900 million tokens, accounting for almost 22% of the total supply of the stablecoin.
In March 2019, Tether and the TRON Foundation announced a partnership to issue the stablecoin USDT as a TRC20 token on TRON’s network. Since that time, the amount of TRON-based Tether has ballooned, adding more than 900 million to the total supply. Ethereum ERC20-based USDT accounts for 2.2 billion tokens, while the Bitcoin-based Omni protocol is around 1.5 billion USDT.
Some analysts have argued that the massive growth of ERC20 and TRC20 USDT shows a strong demand for Tether stablecoins outside of Bitcoin’s framework. Tether first began operation in 2014 as an extension of BTC’s Omni Layer before expanding onto Ethereum’s blockchain.
According to Tether’s transparency pageregarding USDT, while TRON-based USDT accounted for 12% of the total Tether supply in Oct. 2019, that number has ballooned to almost 22 percent as of Jan. 1, 2020. A Binance user is the top holder of TRC20 Tether, while a Huobi account is responsible for the largest portion of ERC20 USDT.
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