Tron (TRX) Stuns Layer-1 Rivals With This Mega Transaction

Cover image via U.Today

Tron (TRX), a layer-1 network, has impressed the cryptocurrency market with its noteworthy USDT transaction volume. Arkham Intelligence revealed that an astounding $1 billion worth of USDT has been minted on the Tron blockchain.

Zero Fees: Tron's Competitive Advantage

This significant transaction volume destacably entailed zero fees. TRX's absence of fees has made it a preferred choice for users. Compared to blockchains like Cardano, Solana, Ethereum, and XRP, Tron's cost-effective USDT transactions have gained it a substantial user base.

Moreover, Tron boasts substantial stablecoin liquidity, rivaling other blockchains. Its user-friendly platform and low USDT transaction rates make it convenient for users.

TODAY: $1B USDT minted on TRON
They paid $0.00 in fees.
Wow pic.twitter.com/NuNYRuj1Yc

— Arkham (@ArkhamIntel) August 20, 2024

Financial analysts indicate that minting such a substantial amount of USDT on other blockchains would have incurred significant costs, potentially deterring the transaction initiator. Over time, this has proven to be a strategic advantage for Tron.

Growing Popularity in the Meme Coin Market

Recent figures indicate that the Tron Network has made significant strides in the meme coin market, with traders profiting from TRX-linked tokens. Data shows that some traders have experienced 100-fold returns from trading Tron meme coins, a remarkable feat in this niche. Industry experts note that similar achievements were last witnessed during the early days of Pepe and Shiba Inu.

Additionally, Tron's success has been further bolstered by its recent entry into the top 10 of cryptocurrency market rankings, surpassing Cardano. TRX, with a market capitalization of $11.98 billion, replaced Cardano in the top 10, as reported by U.Today.