Tether (USDT) on Tron could surpass those on ETH
2 min read
Tether dollars (USDT) issued on the Tron blockchain could soon be more than those issued on ETH.
In fact, USDT tokens exist on several different blockchains. Initially, they only existed on the BTC blockchain, thanks to the Omni protocol, but then they landed on ETH, and later on Tron, EOS, Liquid, Algorand, SLP and Solana.
In total, there are now almost 46 billion USDT in circulation, 50% of which are on the ETH blockchain.
Since they were also issued on ETH, these have taken over, and there are now only less than 3% on Omni.
However, for some time now ETH has suffered from a problem that makes USDT less usable, namely high transaction fees and slow execution times.
It now takes at least $10 of gas to be able to have a good guarantee that a transaction on ETH will be validated quickly, and this certainly hurts smaller transactions in particular.
Transactions on Tron, on the other hand, have much lower commission costs and better execution speed. Ever since Tether issued USDT on Tron, these have often been preferred to those on ETH.
Tether, 22 billion USDT on Tron
To date, the company has issued nearly 22 billion USDT on the Tron blockchain, which is more than 46% of all USDT issued.
Therefore, the majority of new USDT tokens issued by Tether are now issued on the Tron blockchain, such that it may not be long before these surpass those issued on ETH in number.
According to @coinmetrics, the market cap of #TRC20–#USDT is about to surpass #ERC20–#USDT! Prepare to witness history!
— Justin Sun
According to 
Use 
(@justinsuntron) In fact, even comparing the numbers for total daily transactions recorded on the two blockchains, Tron has been outperforming ETH for some time now, probably due to the lower cost of gas.
Moreover, Tron‘s native cryptocurrency TRX also seems to be benefiting from this usage, as its price has risen more than ETH‘s in the last week.
However, TRX has not yet reached its all-time high of $0.3 from January 2018, while ETH has already far surpassed the peaks it touched in that same month.
The post Tether (USDT) on Tron could surpass those on ETH appeared first on The Cryptonomist.
