In the first half of 2024, TRON's dominant position in the field of stablecoins has been further strengthened. Not only has the total market value of stablecoins on the chain continued to soar, but it has also carried the increasingly strong and diverse stablecoin demand of many users. DefiLlama data shows that as of June 30, the total market value of the global stablecoin market exceeded US$161 billion, and the market value of stablecoins circulating on the TRON network reached US$60.8 billion, accounting for 37% of the total market value of stablecoins, ranking second in the global public chain. In addition, as of the end of June, the number of stablecoin holding accounts on the TRON chain exceeded 47 million, and the annual transfer amount exceeded US$2.4 trillion. TRON has become an important global stablecoin payment network. As the most popular stablecoin on the current chain, TRC 20-USDT performed exceptionally well in the first half of 2024, with an annual issuance of 11 billion pieces and a circulation of more than 59.8 billion pieces, which steadily accounts for more than half of the total circulation of USDT and is widely used for shopping payments, travel settlements, and fiat currency exchange. On June 24, the Web3 shopping platform Uquid released data showing that as many as 48.78% of Uquid users in Latin America use TRC 20-USDT for consumption. In addition, in the first half of this year, the well-known non-custodial wallet UXUY, one of India's largest crypto exchanges WazirX, and the Korean cryptocurrency exchange Upbit have all completed support for TRC 20-USDT. TRC 20-USDT will reach more users and emerging markets and unlock more trading use cases. In fact, the TRON network has formed a diversified layout dominated by TRC 20-USDT, TRC 20-TUSD, TRC 20-USDC, USDD, USDJ, and the offshore RMB stablecoins TCNH and CNH₮, which can meet the trading needs of the majority of users from different angles. Among them, USDD, as the world's first decentralized super-collateralized stablecoin, has a market value of more than US$700 million in the first half of this year, ranking sixth in the stablecoin track. In the future, TRON will continue to give play to the technical advantages of the underlying blockchain, promote cryptocurrency to a broader field, and while realizing the circulation value of stablecoins, it will also lay a solid foundation for the construction of the Metaverse Financial Free Port.
