Number of Daily Tether Transactions on Tron Successfully Surpasses Visa

Bittime - Tether (USDT) surpassed Visa in the number of daily transactions, marking a rapid increase in stablecoin market capitalization. Although it has been criticized for being used in illegal activities, USDT continues to grow in popularity in the crypto market.

Number of Daily Transactions Tether Successfully Surpasses Visa

This data comes after a huge increase in stablecoin market capitalization, with USDT leading the way. Other Nansen on-chain data showed a similar situation earlier in April. The combined trading volume of USDT, USDC, and DAI reached $1,369, beating Visa's average monthly transactions of $1.23 trillion based on past 2023 data.

However, this upward trend has no clear basis. So far Tether has launched a synthetic dollar called Tether Gold, it is backed by gold and supports digital asset education and blockchain.

Tether Leads in Market Capitalization

Stablecoins like USDT are doing well even though the crypto market has experienced a downturn over the past month. According to Token Terminal's Tweet, monthly stablecoin transfer volume has increased more than tenfold in the past four years. 

Around $1 trillion is transferred every month, with USDT being one of the largest stablecoins contributing the most to this. Tether outperforms conventional payment gateways in transaction volume on Tron.

Check Today's Crypto Market:

The Number of Stablecoins Continues to Increase

The increasing number of stablecoins, especially since 2020, has prompted financial authorities to examine this type of digital asset. One example is Uphold, a crypto company in the European Union, which suspended most of its stablecoins to comply with MiCA regulations.

Also Read How To Buy Crypto:

Tron's USDT Reputation Comes Under Criticism

Tron's USDT reputation among illicit transactions has been widely criticized. Crypto crime reports, such as Chainalysis, show significant use of stablecoins in illegal activities in Asia. 

In January, a UN report revealed how criminals use Tron's USDT in money laundering networks, illegal gambling, cybercrime, fraud, and more. This is due to the blockchain's low prices and fees, which make transactions effective.

Check Crypto Prices Today:

Conclusion

Tether (USDT) has surpassed Visa in the number of daily transactions, indicating a major increase in the stablecoin market capitalization. However, there has been criticism about the use of USDT in illegal acts such as money laundering and cybercrime, but the popularity of this stablecoin continues to grow. The increasing number of transactions and its presence on Tron demonstrate its position as a crypto market leader.

How To Buy Crypto With Bittime

You can buy and sell crypto assets in an easy and safe way via Bittime . Bittime is one of the best crypto applications in Indonesia which is officially registered with Bappebti. 

To be able to buy crypto assets on Bittime, make sure you have registered and completed identity verification. Apart from that, also make sure that you have sufficient balance by depositing some funds into your wallet. For your information, the minimum purchase of assets on Bittime is IDR 10,000. After that, you can purchase crypto assets in the application. 

Monitor price chart movements of Bitcoin (BTC), Ethereum (ETH), Solana (SOL) and other cryptos to find out today's crypto market trends in real-time on Bittime.

Read more:

USDC Developments: Transaction Stablecoin Visa Surpasses Tether (USDT)

Solana’s DEX Transaction Surpassed Other Blockchains with 210 Million Transactions!

Solana Surpasses Ethereum! DEX on the Solana Network Records 2 Times More Transactions

DISCLAIMER: This article is informational in nature and is not an offer or invitation to sell or buy any crypto assets. Trading crypto assets is a high-risk activity. Crypto asset prices are volatile, where prices can change significantly from time to time and Bittime is not responsible for changes in fluctuations in crypto asset exchange rates.