Tether (USDT) Breaks Records with 18M Weekly Transactions on EVM Chains led by Tron
- Tether (USDT) reaches a record 18 million weekly transactions on EVM chains.
- Tron accounts for 78% of USDT transactions and holds 84% of USDT addresses.
- Tether reports $5.2 billion in profits for H1 2024, maintaining over 70% market share.
The largest stablecoin, Tether (USDT), has continued to achieve record-breaking performance this year, with over 18 million weekly transactions on Ethereum Virtual Machine (EVM) chains alone. Analytics platform IntoTheBlock highlighted this milestone in a recent update.
Notably, the graph accompanying the update shows a steady uptrend in USDT transaction counts over the years, culminating in the recent record of 18 million weekly transactions.
Furthermore, the report from IntoTheBlock revealed that a staggering 78% of these transactions are occurring on the Tron (TRX) blockchain. This makes Tron the leading platform for USDT transfers, outpacing other EVM-compatible chains.
Moreover, IntoTheBlock data revealed that there are currently 48 million addresses holding USDT across Tron’s ecosystem, with a significant 84% of them being Tron-based. As a result, the report stressed Tron’s significance as a platform for expanding …
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