Tron’s Popularity with USDT
The Tron network is the most popular blockchain for issuing and circulating USDT, the largest stablecoin by market cap. Justin Sun, the founder of Tron, announced a new service that allows stablecoin transfers without fees. This new technology covers gas fees using the stablecoins themselves.
Integration and Launch
Initially, the solution will be integrated into the Tron blockchain. Later, it will expand to other Ethereum-compatible blockchains. The service launch is planned for Q4 2024. Justin Sun did not share further details.
Developer Team’s Efforts
Justin Sun shared on social media that their developers are creating a solution for fee-free stablecoin transfers, where gas fees will be entirely covered by the stablecoins.
Impact on Adoption
Justin Sun believes this service will make it easier for large companies to adopt stablecoins, pushing blockchain adoption to a new level. He predicts Tron will become the first blockchain to surpass one billion addresses.
Current Status of Tron and USDT
Tron is the leading blockchain for issuing and circulating USDT by Tether. However, the operator of the second-largest stablecoin, USDC, stopped issuing tokens on the Tron network in February. According to DeFiLlama, the total capitalization of stablecoins on Tron is $58 billion, with USDT accounting for $57 billion.
Justin Sun’s Ventures and Legal Issues
Billionaire entrepreneur Justin Sun also owns the crypto exchanges HTX (formerly Huobi) and Poloniex, along with several other crypto services. In late 2023, the U.S. Securities and Exchange Commission (SEC) filed a lawsuit against Sun and his company. They accused him of market manipulation to create the appearance of active trading in TRX. Sun claimed the lawsuit was baseless.
