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Tron’s $60B Goal in Sight As Stablecoin Dominance Surges

The dominance of the Tron (TRX) stablecoin has reached a new high of 33.9%, largely due to the rising supply of Tether USDT, according to DeFiLlama data. The Tron stablecoin market is valued at $44.52 billion, with USDT accounting for 95% of the stablecoins on the network. Justin Sun's goal is to increase the Tron stablecoin market to $60 billion before the end of the year. Meanwhile, Ethereum remains the dominant blockchain for stablecoins, with a market cap of $70.97 billion. Tether's USDT has had a largely positive 2023, with its market cap rising 6.18% in the past month to $81.4 billion, and its dominance hitting 62.1%.

(By Oluwapelumi Adejumo)

Related News:

TrueUSD Stablecoin Makes the Biggest Bitcoin Trading Pair

Tron Founder Justin Sun, Soulja Boy, and Austin Mahone Summoned by SEC in Crypto Asset Case

Binance.US To Delist Tron’s TRX Amid Rumors Of Justin Sun’s Arrest

Binance Curb on Zero-Fee Trading May Cost Market Share, Boost TrueUSD Stablecoin

TrueUSD Becomes 5th Largest Stablecoin as Binance Mints $130M TUSD in a Week

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