Monthly Transfer Volume of TRON-based Stablecoin Has Drawn Level with PayPal’s Quarterly Payment Volume, Justin Sun’s Global Settlement Layer Is Coming

NEW YORK–(BUSINESS WIRE)–The crypto world has been in the spotlight since the U.S. government’s approval of the first Bitcoin ETF, with a myriad of trendy concepts blowing people’s mind and vying for more users and funds. As the overall industry escalates to new heights in terms of its size and clout, stablecoin, the “holy grail in the crypto world” known for its role in value benchmark, traffic inflow, and risk avoidance, has also embraced unprecedented growth this year.

One good case in point here is TRON-based stablecoins. As the undisputed front-runner in the stablecoin sphere, they have recently been moving in full gear. According to stats on TRON’s official blockchain explorer TRONSCAN, the transfer volume of TRON-based stablecoins stood at $19.93 billion on November 30, hitting an all-time high since this June and poised to surpass the $20 billion mark. TRON founder Justin Sun also spoke highly of the efficiency of TRON’s stablecoins on his social media account.

To people who may not necessarily understand what this figure means, a simple comparison might be helpful. U.S. leading payment provider PayPal is known as the benchmark in the traditional payment industry. Boasting up to 400 million users around the world, it is a force to be reckoned with regarding cross-border transfer. According to the latest financial report, PayPal posted a total payment volume of $310 billion in the third quarter of 2021, which translates to a daily payment volume of $3.37 billion. In the past few weeks, TRON-based stablecoin has seen a daily transfer volume of $8 billion or even $10 billion, multiple times more than that of PayPal. To put it simply, it would only take TRON less than a month to reach PayPal’s quarterly payment volume.

Besides, TRON also outperforms Ethereum in circulation volume, the number of unique addresses, and daily transfer volume. Specifically, the number of unique addresses of TRC20-USDT has now reached 8.5 million, which has doubled in six months and is still growing rapidly. Additionally, the daily transfer volume on TRON has maintained its stable performance of over 1 million. It’s also worth noting that TRON is the public chain that hosts the additional issuance of Tether the most frequently, with the circulation volume of TRC20-USDT once hitting a record high of 38.9 billion.

So what has given rise to TRON’s flourishment in stablecoin? The intrinsic merits and all-around strategy of TRON-based stablecoin are the main drivers. Other than that, TRON’s endeavor in GameFi, metaverse, and NFT has boosted TRON’s on-chain demand, and thus increasing the transfer volume of its stablecoins.

Underpinned by its underlying technologies that improve the chain’s security, cost, and efficiency, TRON has been in fact the most financially inclusive in the industry. Thanks to this, the transparent and secure TRC20-USDT with its close-to-zero transaction fees and instant transfers has now become the most popular stablecoin after over two years of development. According to TRON’s official data, it costs less than $800,000 fees for a $20 billion transfer, an efficiency that traditional payment methods can only look up to and other crypto players can hardly approach.

Also, despite having USDT, the industry’s No.1 stablecoin, TRON has not slacked off a bit in its expansion in this area. After rolling out TUSD and USDJ, TRON has built a strong fleet of four major stablecoins: USDT, USDC, USDT, and TUSD, with the most popular USDT and USDC breaking the path, and TUSD and USDJ securing compliance and decentralization.

With unique advantages in terms of a solid top-level design and a considerable user base, as well as incremental support from more exchanges, the turbocharged growth of TRON in the stablecoin field is by no means an overnight achievement. The recent development of TRON in various fields has also contributed to its soaring on-chain demand and stablecoin transfers.

Looking at GameFi, which has been the most popular recently, Justin Sun, who is known for not missing any trendy topic, has launched a high-profile horse racing game, echoing with his previous “all in GameFi ” announcement. The heated discussions on WIN NFT HORSE, the first GameFi project of the TRON ecosystem, across major social media platforms attest to its popularity. Moreover, its 10,000 mystery boxes were sold out within seconds after their launch on the Binance NFT platform last week. At present, its total sales have exceeded 61 million TRX. With the official launch of WIN NFT HORSE on Binance, this phenomenal on-chain P2E game will bring more new users to TRON and power its stablecoin ecosystem.

In addition, Sun’s major moves in NFT also contribute to TRON’s expanding presence in this field. Over the past week, Justin won the bid for Le Nez, a work by the iconic Swiss surrealist sculptor Alberto Giacometti, at over $78 million, then bought the BAYC Tron Ape #6666 Joker avatar with TRX worth $15 million. BAYCTron, which needs to be connected to TronLink wallet before users can use it, is yet another NFT project on TRON after Tpunk and Tron Meetbits. Its success has greatly increased the on-chain demand and transfer demand of TRON.

TRON has also made new progress in the Metaverse field, which is sweeping the blockchain industry, the technology circle, and even the entire world. Last week, TRON’s ecological architectural complex, designed and built by MetaEstate, is officially completed in Cryptovoxels, which allows TRON to display its brand-new image and brand in the metaverse. More importantly, it demonstrates TRON’s capabilities in making rapid deployment in trending areas of the industry, and in securing a foothold in the metaverse field.

As TRON is leading the early-stage fields which many players are still exploring, it is not surprising that the TRON-based stablecoins have blown the doors off of anything else. Justin Sun�s ambition is obviously beyond a single-day transfer amount of close to $20 billion, and he is aiming at $30 billion, or even $50 billion in the future!

Contacts

Angela An

angela.an@tron.network
Website: https://tron.network
Twitter: @tronfoundation