670% Increase in 6 Months: The Amount of USDT on the TON Network Surpasses $1 Billion!
The stablecoin market continues to grow at a rapid pace, creating significant opportunities for emerging blockchain networks. Stablecoins are now widely accepted worldwide, facilitating everything from cross-border transactions to personal payments. For example, around 10% of all commercial transactions in South Korea are now conducted with USDT. Against this backdrop, the TON blockchain stands out as a strong alternative for stablecoins due to its low transaction costs and high speed.
This trend is also evident on the TON network. In May 2024, the TON blockchain held only $130 million worth of USDT, but over six months, this amount surged by 670% to reach $1.02 billion. This rapid increase indicates a growing preference for TON among users, establishing it as a notable player in the stablecoin ecosystem.
Decreasing Transaction Fees
The growing number of USDT transactions on the TON blockchain is driven not only by its speed but also by its competitive transaction fees. In June 2024, the median transaction fee was $0.061, but as of October, it has decreased to $0.035. This reduction makes TON an attractive option for users and has significantly contributed to the network’s rapid adoption.
Conclusion
The supply of USDT reached $120 billion, becoming a major force in the market. Looking ahead, I expect USDT supply to expand to $200 billion during the bull rally. This growth will likely drive further demand for fast and low-cost blockchain networks like TON, leading to continued growth in the amount of USDT on the TON network.
As the stablecoin ecosystem accelerates the adoption of blockchain technology, TON can expand its share in this space by offering robust infrastructure and competitive advantages.
Written by burakkesmeci
