2021-01-25 22:39:59
A new record has been set. USDT transactions on the Tron blockchain surpassed Ethereum transactions on a daily basis in 2021. Despite the fact that, in general, the emission on the ERC20 blockchain is much higher than the USDT on the TRON blockchain, but TRC20 has produced much more transactions during this year.
USDT today ranks third in terms of market capitalization with a valuation of $ 24.9 billion.
Over the past 24 hours, market data shows that Tether (USDT) global trade volume was $ 24.9 billion. Tether was originally issued on the Omni Layer network, but over the past four years, USDT tokens have migrated to other blockchains.
USDT is currently being issued on a variety of blockchains including Ethereum, Tron, Bitcoin Cash, EOS, Liquid, Solana, and Algorand. The vast majority of Tethers are issued using the Ethereum ERC20 standard, and in recent years this stablecoin has become the mainstay in the crypto world, constantly increasing the number of transactions.
Coin Metrics data (https://network-charts.coinmetrics.io/) shows that Tether TRC20 made 247,000 transactions, while Tether ERC20 only 179,000 on the same day. Despite the fact that TRC20 have more transactions, the aggregated volume of ERC20 USDT is still 2 times its volume.
The explanation is very simple. The load on the Ether network has grown so much that the gas price has gone beyond reasonable limits. Largely due to the increase in the price of Ether, which in turn happened due to the deposition of huge amounts of ETH on DEFI smart contracts. The commission on the Trona blockchain is practically zero, with a total number of transactions of 3.1 million per day.
For comparison, the number of bitcoin transactions is about 245 thousand, more than a million transactions take place on the Ether blockchain every day, the price of which is hundreds of times higher.
At the time of publication of this text, the cost of one transaction is $ 4.8, or about 360 rubles. German Gref is nervously jealous of Buterin and is already preparing his stable coin for the spring.
Who would have thought, but now in terms of the number of transactions, the Tron blockchain surpasses BTC and ETH combined.
What practical conclusions can be drawn from this information?
First, despite the DEFI hype and the clearly inflated interest in the industry, major and new DEFI projects will grow in turnover for at least two to three years. Speculators should take a closer look at these coins in their portfolio.
Second, the growth potential of Ether is far from being exhausted, and the forecasts for its price growth to $ 10,500 are fully justified and are based on fundamental indicators.
Third, no matter how the Ethereum team postpones POS, now is the time to urgently launch it. It is rumored that this will happen soon.
Fourth, the transaction price matters. Of course Ether is the first and most important project with smart contracts and DAPP. And although Jim Collins believes that technology does not matter, and the main thing is to be the first, but Tron really proved that the speed and cheapness of transactions can move Ether off its pedestal. And on the way is PolkaDot with its 4th place in the market cap.
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