USDT is the largest stablecoin, and its market cap stands at $86,155,638,841, according to CoinGecko. Tether issues USDT on several blockchains, including Ethereum, Tron, and others. USDT is a popular stablecoin pegged to the US dollar, used extensively in crypto trading and transactions. But its network effects continue to draw stablecoin usage. Critics argue Tron’s success is exaggerated. “Tron had four years of first-mover advantage before the first layer two on Ethereum came out.”ĭue to its head start in scaling and low transaction costs, Ardoino believes Tron established dominance in usage for blockchain projects like USDT that require speed and high throughput. Tron had four years before we know there was a team on Tron in 2018,” said Ardoino. He said Tron has had a “four-year first mover advantage” since launching in 2018, while Ethereum’s layer 2 projects like Optimism and Arbitrum emerged later. Nonetheless, activity on blockchains like Tron represents a slice of transactions occurring outside centralized platforms.Īrdoino believes Tron has become so popular for USDT because it was on the market with layer 2 solutions before Ethereum. Get Optimism NFT floor price, trading volume, where to buy and popularity. We estimate the NFT market cap using floor price and total minted tokens. Explore all the top Optimism NFT collections by price floor, market cap, and total volume. He added that, at the end of the day, users care most about speed, cost, and using USDT for transactions.Īccording to Ardoino, the vast majority of USDT usage comes from centralized exchanges. Top Optimism NFT Collections Ranked by 24H Trading Volume. “I’m always surprised every time I see where the volume of USDT is happening because it’s seemingly the bulk of it is on Tron,” said Melker. He suggested users are flocking to Tron because it offers fast and inexpensive transactions when they want to trade in digital dollars. Cryptos.TEL : Strategic News on CRYPTOS, pushed to you. In a recent interview with Scott Melker, AKA the Wolf of All Streets, Tether CTO Paolo Ardoino spoke about the surprising volume of Tether’s stablecoin USDT on the Tron blockchain network.Īrdoino noted that a significant share of USDT volume occurs on Tron, which people don’t care much about. Key Takeaways: Optimism is a scaling Layer 2 solution for Ethereum and works by using optimistic rollups, with around 850 million in TVL.
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