'Tron Is The King Of USDT': Justin Sun Announces $1B In Tether On His Blockchain Network

Benzinga - On Sept. 19, Justin Sun, founder of Tron Network (CRYPTO: TRX) tweeted: “1B #USDT on #TRON.”

The Tron Network account echoed the celebration, tweeting: "#TRON is the king of #USDT".

1B #USDT on #TRON https://t.co/mJnjuQgus9

— H.E. Justin Sun 孙宇晨 (@justinsuntron) September 19, 2023

Based on the latest data from Nansen, Tron's transaction rate has seen an uptick and is now averaging a rate that's more than 500% of the Ethereum Network's (CRYPTO: ETH).

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As of Sept. 17, Tron averaged 4.5 million daily transactions and Ethereum, while Ethereum averaged 880,000 daily transactions.

Interestingly, in the data covering the period from April to September 2023, Ethereum's daily transaction numbers remain fairly stable. However, Ethereum experienced noticeable spikes, particularly a surge in mid-June, where it hit close to 14 million transactions. Average daily gas fees paid on Ethereum are consistently higher than Tron by roughly 50x to 200x.

"Providing secure infrastructure and support to be able to change countless lives is so much more impactful and important," Lakhani noted. "Tron is providing the ability to use crypto as it was initially intended – as a way to conduct transactions without the intervention of a third party."

Lakhani spoke to Benzinga from Princeton, where Tron is co-hosting a hackathon with Houbi Ventures with a $10,000 prize pool.

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