In a significant milestone for the crypto industry, the 24-hour trading volume of Tether (USDT) on the TRON network has surpassed Visa's average daily trading volume. The trading volume of USDT reached $53 billion, outpacing Visa's Q1 2024 average daily volume of $42 billion.

This development underscores the rapid growth and adoption of TRON-based USDT, which now has over 45.5 million holders and a total transfer count exceeding 1.8 billion. Notably, the top ten holders of USDT on TRON hold 27.69% of the total supply, amounting to 16.56 billion USDT.

The surge in USDT transaction volume on the TRON network aligns with a broader trend of increased demand for stablecoins amidst market volatility. The volume has been steadily rising since January 2023, averaging around two million transactions almost daily and continuing into 2024.

In another development, Tether CEO Paolo Ardoino has introduced aUSDT, a new synthetic dollar backed by Tether's gold-backed digital asset XAUt. The new stablecoin is expected to benefit from gold gains, offering an innovative investment opportunity in the crypto market.