As reported by CryptoPotato, weekly trading volume of Tether (USDT) on Tron reached $110 billion in the first week of April, indicating an increase in stablecoin activity on the network. According to a tweet from IntoTheBlock, Tether’s latest milestone on Tron is twice the amount of its stablecoin settled on Ethereum. This shows that Tron has maintained its leading position in USDT transactions. IntoTheBlock attributed the high USDT trading volume on Tron to the network’s low fees, saying that the blockchain enables users to easily access dollar-based assets. Last month, CryptoPotato reported that USDT trading volume on Tron is rising to peak levels in January 2023. The stablecoin has an average daily transaction volume of approximately 2 million transactions on the network, and this growth began in February. Tether’s market capitalization recently reached $100 billion, further consolidating the asset’s dominance in the stablecoin space. Although the stablecoin is available on 15 blockchains and protocols, the majority of its supply is on the Tron network. Earlier this year, Reflexivity Research found that about 94% of the total value locked in stablecoins on Tron belonged to USDT. This dominance also extends to Tron's smart contracts, of which USDT accounts for more than 95%. USDT contracts consume the majority of on-chain energy, indicating that the asset is used for stablecoin transactions with limited diversification.