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Tron accounts for around 12% of All Tether – finance and finance

Tron, a blockchain-based decentralized platform, announced that it has spent over 12% of the total USDT token supply.

This is according to information from Tronscan. In March 2019, Tether announced a partnership with Tron before launching its TRC20 based USDT. The latter was first introduced in April 2019.

After that, the stable coin grew rapidly and steadily. On October 25, 2019, a total stock of more than 490 million tokens was reached Tweet From Tron, the USDT based in TRC20 currently accounts for about 12% of the total Tether tokens in circulation. It’s about 4.1 million tokens. So it is definitely an important milestone for TRT20-based USDT.

This new total supply volume is due to the additive of 100 million new TRC20 USDT tokens.

How it happened

On October 25 a Whale alert The tracking network reported a large transaction from USDT on a TRC20 basis. Bitfinex CTO, Paolo Ardoino explained that the transaction was caused by a chain swap. The latter involved the transfer of ERC-20 token from Ethereum’s blockchain to Tron. Tether Treasury also minted 40 million USDT.

Put simply, a chain swap is a system for moving cryptocurrencies from one blockchain to another. Keep tying you up explained that a chain swap process “allows merchants to access the various blockchains that support the cryptocurrency they hold, thereby enabling their digital assets to be used on those other supporting blockchains.”

It’s important to note that tether too embossed 300 million USDT tokens in September.

Tron is focused on creating a global digital content entertainment system. It is proud to be free of charge and accessible to everyone. It enables the easy and inexpensive distribution of digital content. Plus Tron recently partner with Simplex to enable fraud-free transactions on the Tron network.

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