{"id":11596,"date":"2023-04-21T10:53:14","date_gmt":"2023-04-21T10:53:14","guid":{"rendered":"https:\/\/cryptoheretostay.com\/?p=11596"},"modified":"2023-04-21T10:53:15","modified_gmt":"2023-04-21T10:53:15","slug":"trons-60b-goal-in-sight-as-stablecoin-dominance-surges-fueled-by-tethers-impressive-run","status":"publish","type":"post","link":"https:\/\/cryptoheretostay.com\/?p=11596","title":{"rendered":"Tron\u2019s $60B goal in sight as stablecoin dominance surges \u2013 fueled by Tether\u2019s impressive run"},"content":{"rendered":"<p> <script type=\"text\/javascript\">\r\namzn_assoc_placement = \"adunit0\";\r\namzn_assoc_tracking_id = \"totafreearti-20\";\r\namzn_assoc_ad_mode = \"search\";\r\namzn_assoc_ad_type = \"smart\";\r\namzn_assoc_marketplace = \"amazon\";\r\namzn_assoc_region = \"US\";\r\namzn_assoc_default_search_phrase = \"crypto\";\r\namzn_assoc_default_category = \"All\";\r\namzn_assoc_search_bar = \"false\";\r\namzn_assoc_title = \"\";\r\namzn_assoc_rows =\"1\";\r\n<\/script>\r\n<script src=\"\/\/z-na.amazon-adsystem.com\/widgets\/onejs?MarketPlace=US\"><\/script><br \/>\n<\/p>\n<p>Tron (TRX) stablecoin&#8217;s dominance has reached a record high of 33.9% \u2014 primarily due to the rising supply of Tether USDT, according to data from DeFiLlama.<\/p>\n<p>The stablecoin market on the network is currently valued at $44.52 billion after a 1.1% increase in the last seven days. USDT accounts for 95% of the stablecoins on the Tron network \u2014 with $42.29 billion.<\/p>\n<p>Source: DeFillama<\/p>\n<p>The growth aligns with Justin Sun&#8217;s goal of growing the stablecoin supply on the network. In March, the crypto entrepreneur said the goal is to increase the Tron stablecoin market to $60 billion before the end of the year.<\/p>\n<p>In 2023, the Justin Sun-led blockchain network dominance has risen by more than 10%, according to DeFillama data.<\/p>\n<p>Meanwhile, Ethereum (ETH) remains the dominant blockchain for stablecoins \u2014 with a market cap of $70.97 billion.<\/p>\n<h2>USDT continues impressive run<\/h2>\n<p>Tether&#8217;s USDT has had a largely positive 2023, with its market cap rising\u00a06.18% in the past month to $81.4 billion \u2014 its highest point since April 2022. USDT&#8217;s dominance also hit 62.1% \u2014 its highest point since April 2021,<\/p>\n<p>Among the five top stablecoins, only TrueUSD (TUSD) saw its supply increase within the period. TUSD&#8217;s supply has more than doubled in 2023, growing to above $2 billion and enjoying more adoption from crypto exchanges like Binance.<\/p>\n<p>Meanwhile, Binance USD (BUSD), USD Coin (USDC), and DAI supply significantly declined within the period. USDC supply fell 13.63% to $30.83 billion, while BUSD declined roughly 20% to $6.61 billion. DAI plunged 10.13% to $4.85 billion.<\/p>\n<h2>Stablecoin regulations Incoming?<\/h2>\n<p>Some regulatory clarity might be coming to the stablecoin industry after the U.S. House Committee on Financial Services released the draft of a proposed regulation.<\/p>\n<p>The proposed legislation intends to make the Federal Reserve the primary regulatory body for stablecoins and require nonbank entities to register. The bill also imposes a moratorium on algorithmic stablecoins.<\/p>\n<p>Besides that, the Committee recently met with some stakeholders from the industry to discuss the issues plaguing the space.<\/p>\n<p>The post Tron&#8217;s $60B goal in sight as stablecoin dominance surges \u2013 fueled by Tether&#8217;s impressive run appeared first on CryptoSlate.<\/p>\n<p><script type=\"text\/javascript\">\r\namzn_assoc_placement = \"adunit0\";\r\namzn_assoc_tracking_id = \"totafreearti-20\";\r\namzn_assoc_ad_mode = \"search\";\r\namzn_assoc_ad_type = \"smart\";\r\namzn_assoc_marketplace = \"amazon\";\r\namzn_assoc_region = \"US\";\r\namzn_assoc_default_search_phrase = \"bitcoin\";\r\namzn_assoc_default_category = \"All\";\r\namzn_assoc_search_bar = \"false\";\r\namzn_assoc_title = \"\";\r\namzn_assoc_rows =\"1\";\r\n<\/script>\r\n<script src=\"\/\/z-na.amazon-adsystem.com\/widgets\/onejs?MarketPlace=US\"><\/script><br \/>\n<br \/><a href=\"https:\/\/cryptoslate.com\/trons-60b-goal-in-sight-as-stablecoin-dominance-surges-fueled-by-tethers-impressive-run\/\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Tron (TRX) stablecoin&#8217;s dominance has reached a record high of 33.9% \u2014 primarily due to the rising supply of Tether USDT, according to data from DeFiLlama. The stablecoin market on the network is currently valued at $44.52 billion after a 1.1% increase in the last seven days. USDT accounts for 95% of the stablecoins on [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":11597,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":"","_wp_rev_ctl_limit":""},"categories":[3],"tags":[],"class_list":["post-11596","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-ethereum-news"],"_links":{"self":[{"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=\/wp\/v2\/posts\/11596","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=11596"}],"version-history":[{"count":1,"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=\/wp\/v2\/posts\/11596\/revisions"}],"predecessor-version":[{"id":11598,"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=\/wp\/v2\/posts\/11596\/revisions\/11598"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=\/wp\/v2\/media\/11597"}],"wp:attachment":[{"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=11596"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=11596"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=11596"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}