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Home ยป Is Stablecoin Transfer Free on Tron Find Out Everything Here

Is Stablecoin Transfer Free on Tron Find Out Everything Here

By adminJul. 9, 2024No Comments3 Mins Read
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Is Stablecoin Transfer Free on Tron Find Out Everything Here
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Coinworld reported:
Justin Sun’s gasless stablecoin plan aims to completely change the way Tron transactions are conducted. Tron’s stablecoin activity surpasses BSC, demonstrating growth and cost-effectiveness focus.
Tron founder Justin Sun has created a gasless stablecoin solution, which has sparked conspiracy and discussion within the cryptocurrency community. This is to achieve free peer-to-peer stablecoin transfers.
When further discussing the topic, Sun pointed out, “Our team is developing a new solution to enable gasless stablecoin transfers. In other words, transfers can be made without paying any gas tokens, and the cost will be fully borne by the stablecoin itself.”
A significant development
Considering Circle’s recent announcement to halt its USDC coin on the Tron blockchain, Justin Sun’s move represents a major turning point for the Tron network.
This development aims to completely change Tron’s transactions and address the scalability and efficiency challenges of blockchain.
Sun further elaborated, “This innovation will be implemented first on the Tron blockchain, and subsequently support Ethereum and all EVM-compatible public chains.”
Tron’s stablecoin roots
It is worth noting that the success of Tron is largely driven by the use of stablecoins on its blockchain.
Recent posts from Artemis indicate that stablecoin-related metrics on the platform continue to grow, with the recent peak circulating supply reaching $60 billion.
Furthermore, the number of addresses using stablecoins on Tron has reached an all-time high (ATH), surpassing even Binance Smart Chain (BSC), one of the most active blockchains for stablecoins.
Visa’s on-chain analysis further confirms these trends, noting that while BSC leads in transaction volume, it found more transactions below $100 and fewer transactions in the $100-1000 range.
In contrast, Tron exhibits a more balanced distribution, with almost equal numbers of transactions in the < $100 and $100-1000 ranges. What is the outlook for stablecoins? With plans to launch this service in the fourth quarter, Justin Sun's gasless transaction plan is noteworthy. In fact, Hayden Adams, the founder of the Uniswap protocol, recently emphasized the importance of these advancements, stating that this initiative aims to promote the adoption of blockchain, making it easier to reap its benefits while reducing transaction costs. Circle CEO Jeremy Allaire further emphasized the rising adoption of stablecoins, stating, "By the end of 2025, stablecoins will be 'legitimate electronic currencies' in nearly every jurisdiction, occupying an increasingly large share of the $100 trillion-plus electronic currency market." That being said, at the time of writing this article, the monthly trading volume for USDC is $18.23 billion, while USDT's trading volume for July is $12.73 billion. This represents a significant decrease compared to June. It was reported that in June, USDC's trading volume was $809.46 billion, while USDT's trading volume reached $171.11 billion.

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