Tron[1] [TRX] is a familiar name in crypto news, whether it’s a coin-related update or something to do with founder Justin Sun. Well, sometimes, it’s due to both.
In fact, Tron’s official Twitter account shared[2] that the network’s total stablecoin transfer volume had crossed $19 billion, and was actually closer to $20 billion.
Meanwhile, Sun drew attention[3] to not only the achievement but also how it was reportedly achieved in under $800,000.
Coming to Tronscan’s data[4] for stablecoins, one can see that the winner by a huge margin is Tether [USDT], with a circulating supply of around $36,992,473,247. Others in the running included the JUST Stablecoin [USDJ], TrueUSD [TUSD], and USD Coin [USDC].
Of the total stablecoin transfer volume on 30 November, more than $19 billion came from USDT.
However, these formidable figures raise a significant question: was this all, thanks to everyday investors?
Mint and Burn
For the past few months, users grew alarmed as Tether minted billions of USDT[6]. Although company officials explained[7] this was to facilitate chain swaps and that the total supply wasn’t changing, FUD[8] could still be felt. Several of these coin mints and burns took place[9] on the Tron blockchain. In fact, yet another chain swap happened just on 30 November.
In short, Tron has seen a lot of stablecoins on its blockchain, not just thanks to investors, but larger stakeholders as well.
Milestones and millions
Another achievement that Tron detailed in its Tronscan Weekly Report was surpassing[10] 63 million TRON accounts. What’s more, the 32nd largest crypto by market cap had a rather exciting start in November. CoinShares data showed that Tron recorded around
