Tron News Today – Headlines for May 12

  • Tether has been issued on six different Blockchains
  • Tron now hosts the second-highest USDT volume after Ethereum
  • Tether’s parent company now has a total of $8.59 Billion in assets

Tron News Today – the much-anticipated Bitcoin halving event is now only a few hours away. The price of the number one digital asset has exhibited a huge drop lesser in magnitude compared to what we saw in the middle of March this year. In only a matter of minutes, the number one Crypto dropped from $9,600 to $8,100.

In such times when there is rapid market volatility like BTC’s action today, it is normal for crypto traders to cash out their holdings into reliable stablecoins. The stablecoin that has continued to make headlines is Tether. This time the news about Tether is relating to Tron. Tron is now one of six new different Blockchain networks to issue USDT. The move places Tron as number two issuer of Tether in terms of sum/volume behind only Ethereum.

$1.6B USDT Has Been Issued on Tron

Tether has become the preferred stablecoin option for the bulk of traders who want to wait out this period of uncertainty in the market. The USDT stablecoin is currently ranked the number 4 digital asset on CoinMarketCap by market capitalization. The asset has a market cap of $6.355 Billion.

Now, via a recent tweet, the founder, and CEO of the Tron Blockchain Justin Sun, highlighted that there are now over $1.6 Billion worth of the Tether (USDT) stablecoin issued on the Tron Blockchain. This announcement all but confirmed Tron as the second holder of the largest sum of Tether on its network. The move places Tron behind only Ethereum in terms of networks with the highest volume of Tether on their Blockchain.

Tron Ranks Number Two After Ethereum in USDT Issuance

Further checking for a better breakdown of the total sum of USDT issued on various blockchains, Tron has now surpassed Omni in terms of the sum of Tether issued. At press time, the breakdown of networks supporting the Tether stablecoin and their corresponding USDT amount can be found below:

– Ethereum: $5,737,970,410.92

– Tron: $1,603,395,020.12

– Omni: $1,335,000,000.00

– Liquid: $16,561,000.00

– EOS: $5,251,000.50

– Algorand: $1,000,010.00

According to the above tablet, it is safe to conclude that the Ethereum network still hosts the biggest number of USDT before the Tron Blockchain. Additionally, Tether’s parent company now owns $8.591 Billion in overall assets. In late April, the firm declared that its total assets had reached $6.229 Billion which is a 38% increment over two months. The increase solidifies Tether’s dominance and its current position as the most preferred stablecoin.

Princess Ogono is a writer, lawyer and fitness enthusiast. She believes cryptocurrencies are the future. When she's not writing, she spends time with her adorable cat, Ginger and works out often.

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