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TRON ‘beats’ Ethereum on Stablecoin Supply Evens Out
In a significant turn of events, the TRON network has emerged victorious in terms of stablecoin transactions, surpassing its chief competitor Ethereum. This development comes on the back of stablecoin supply reaching an equilibrium state on the TRON platform.
The statistics reveal that TRON’s market dominance in stablecoin transactions has increased by 57% over the previous month, capturing a staggering 64% of the market share. In stark contrast, Ethereum’s activity in USDT transfers remained stagnant, with its transaction volume remaining flat.
This shift can be attributed to TRON’s competitive edge when it comes to lower transaction fees and faster processing times via the TRC20 protocol. This advantage has undoubtedly resonated with users, leading to a significant uptick in TRON-based stablecoin transactions.
Furthermore, lending activities on the TRON network have also taken center stage, accounting for an impressive 55% of the total value locked (TVL) since 2022. JustLend, a prominent lending platform on the TRON blockchain, has been instrumental in driving this growth by offering users a secure and decentralized way to engage with financial services.
In addition, daily network transactions have also favored TRON, with the chain handling an astonishing volume of transactions, surpassing other major networks such as Ethereum. The data suggests that TRON’s monthly transaction figures consistently surged above those of its rivals, reaching as high as 182 million, 167 million, and 135 million over recent months.
In summary, these developments underscore TRON’s growing appeal in the decentralized finance (DeFi) sector, outpacing Ethereum in several key areas.
Source: ambcrypto.com
