Web 3 Blockchain Transactions Surge TRON-Based USDT Surpasses Visa’s Average Daily Volume

Derrick · June 30

TRON-Based USDT Surpasses Visa’s Average Daily Volume

The 24-hour trading volume of Tether (USDT) on the TRON network has reached a remarkable milestone, hitting $53 billion and surpassing payment giant Visa’s average daily trading volume of $42 billion for Q1, 2024. This comparison highlights the rapid growth and increasing demand for blockchain-based transactions.

Visa, as one of the world’s largest payment processors, manages billions of transactions across over 200 countries and regions. The fact that TRON-based USDT has outpaced Visa’s daily volume is a significant achievement, demonstrating the expanding role of Web 3 blockchain transactions in the global financial landscape.

Lookonchain’s recent tweet emphasized this milestone: “The 24-hour trading volume of $USDT on #TronNetwork is $53B, exceeding Visa’s average daily trading volume. Visa’s trading volume in Q1 2024 was $3.78T and the average daily trading volume was $42B.”

Data from TronScan further revealed that USDT on the TRON network recorded over 45.5 million holders and a total transfer count exceeding 1.8 billion during this period. The top ten holders of USDT on TRON possess 27.69% of the total supply on the network, holding 16.56 billion USDT. This indicates a strong and growing user base for TRON-based transactions.

The rise in USDT transactions on TRON aligns with a broader trend of increased demand for stablecoins, especially during downturns in the crypto market. Since January 2023, the volume of USDT transactions on TRON has been steadily rising, averaging around two million transactions daily since February. In the first week of April alone, TRIN’s weekly volume for USDT hit an astounding $110 billion, double the amount settled on Ethereum.

In addition to these achievements, Tether recently introduced aUSDT, a new synthetic dollar backed by Tether’s gold-backed digital asset XAUt. This move is expected to further enhance the attractiveness of stablecoins by offering returns from gold gains.

These developments underscore the growing confidence in blockchain-based financial transactions and the potential for further advancements in fund tokenization. As TNQ embarks on its journey to revolutionize fund tokenization, the surging demand for Web 3 transactions, exemplified by TRON-based USDT outpacing Visa, provides a robust foundation for future growth and innovation.