- Tether (USDT) has achieved remarkable stability in the digital space with a whopping 916 million stable coins in circulation.
- TRON based USDT may receive a considerable acceptance taking over a quarter of all issued stable coins.
- Ethereum network remains to be in the second position with 2.2 billion coins in circulation.
Tether (USDT), a cryptocurrency processing on blockchain mechanism issued on TRON (TRX) network, has achieved remarkable stability in the digital space with a whopping 916 million stable coins in circulation.
As predicted that TRON based USDT may receive a considerable acceptance taking over a quarter of all issued stable coins. USDT released on the Ethereum network remains to be in the second position with 2.2 billion coins in circulation.
USDT, even though designed to offer stability and transparency during the transaction, its effect in the digital space has evolved as there are various other factors in Bitcoin (BTC) price discovery. The total number of USDT has been at a constant value of 4,108,044,456 coins, but its composition on different blockchain networks varies.
Scammers Impersonating justin Sun
TRON based USDT has paved the way for new scams. TRON Europe has tweeted on December 12, 2019, to be aware of fake USDT since impersonators of Justin Sun, CEO of Tether foundations has been promoting such fake USDT and selling them to naïve buyers and in some cases even asking for partnerships.
These scams have arisen from the overall hype of its wide acceptability in the digital space. It poses troubles for the promotion of TRON based USDT to multiple international exchanges.
As per the tweet by Justin Sun on December 10, 2019, the TRC-20 asset is being distributed in its promotion program. On similar grounds, a week ago, OKEx held a giveaway for USDT stakes. On December 7, the asset was added to the leading Russian market, Exmo exchange.
TRX has stalled around $0.014 even though more USDT leads to higher liquidity. The asset has lost its position from the top ten coins and tokens irrespective of the enormous social media buzz. Its value has remained constant and is mostly open to new exchanges with slim volumes.
Binance US testing TRX
Binance US would be testing TRX for listing, though no assurance provided on asset add-on. TRON, it’s potential to get centralized has invited various criticisms even though the network is quite famous for gambling distributed apps.
The asset uses TRON network resources to create rewards, which can then be sold on the open market.