Tron achieved an “impressive” performance with over $ 19 billion in stablecoin conversion volume

Tron is a household name in crypto media, whether it’s updates or breaking news from founder Justin Sun, and sometimes both.

Yesterday Tron’s official Twitter account notification The network’s total stablecoin conversion volume exceeds $ 19 billion and is approaching $ 20 billion.

“According to Tronscan, the total stablecoin conversion volume on the Tron network exceeded $ 19 billion and hit $ 30 on November 30th. $ 19,828,035,319! A new record! ”.

Meanwhile, Sun attracted attention not only with the performance, but also with the fee of less than $ 800,000.

#TRON Processed a stablecoin transaction of $ 19.9 billion today at a cost of less than $ 800,000! Very impressive! #TRX pic.twitter.com/2tS2SzrZki

– Justin Sun (@justinsuntron) December 1, 2021

“Tron processed stablecoins worth $ 19.9 billion at a cost of less than $ 800,000! Very impressive!”.

According to Tronscan data, USDT is the most converted stablecoin with a “huge” circulation of around $ 36,992,473,247. This is followed by JUST Stablecoin (USDJ), TrueUSD (TUSD) and USD Coin (USDC).

Of the total stablecoin conversion volume on November 30th, over $ 19 billion was in USDT.

The source: Tronscan

However, these impressive numbers raise an important question: is it the everyday investor?

Pour and burn

For the past few months, users have been concerned as Tether has minted billions of USDT. While the company’s leaders interpret this as making it easier to swap chains and the overall offering remains unchanged, the FUD can still be felt. Some of them embossed and burned take place on the Tron blockchain. In fact, on November 30th another chain swap takes place loudly Tether.

“Tether is working with a third party to do a chain swap (converting Tron TRC20 to Ethereum ERC20) for USDT 1 billion. The entire USDT offer remains unchanged. “

In short, there are plenty of stablecoins working on the Tron blockchain, thanks not only to investors but also to larger stakeholders.

Important milestones

Another achievement Tron described in the weekly Tronscan Report is that the network has more than 63 million accounts. In addition, interestingly enough, the 31st largest cryptocurrency by market capitalization launched in November. CoinShares data shows Tron saw roughly $ 21.9 million in inflows for the week ended November 5th.

On the other hand, Tron was also affected by regulatory and stock exchange law problems at the end of the month. On November 23, eToro announced it would be removing TRX from its list for users in the United States.

At the time of writing, TRX is trading at $ 0.09614, down nearly 2% over the past 24 hours.

TRX 4-Hour Price Chart | Source: Tradingview

Join Bitcoin Magazine Telegram to keep track of news and comment on this article: https://t.me/coincunews

At home at home

According to AMBCrypto

Follow the Youtube Channel | Subscribe to telegram channel | Follow the Facebook page