The $TRX network's USDT conversion volume hits a record high.

In November 2024, the TRON network achieved a significant milestone by processing USDT transfers totaling $587.2 billion.

This represents a substantial increase from $424.4 billion in September and $489.3 billion in October.

This growth is remarkable considering that in July 2019, TRON processed only $73.8 million in USDT transfers.

Additionally, in October 2024, the number of USDT recipients on TRON reached a peak of 10.6 million, while the number of senders was 9.2 million, the second-highest level after May of the same year.

The increased usage of TRON is attributed to its low transaction fees and fast processing times, making it an efficient choice for users.

This performance has positively impacted TRX's price, which has grown by more than 160% over the past year, including a 3.3% increase in the last 24 hours.

Despite TRON's dominance in USDT transfer volume, Ethereum has recently overtaken TRON as the leading platform for USDT supply.

In the past month, Tether issued $20 billion in USDT on Ethereum, and analysts expect Ethereum's USDT supply to reach $1 trillion by the end of 2025.

Other platforms, such as Binance and Circle, are also seeking to promote the adoption of stablecoins through strategic partnerships, contributing to increased market competition.