[USDT breaks all records in 2024, with more than 18 million EVM chain transfers per week]
In 2024, top stablecoin USDT continues to break records, with more than 18 million transfers on the EVM chain per week. IntoTheBlock, an AI-powered programmable financial services platform, mentioned that this data shows significant growth for USDT. IntoTheBlock posted the details on social media.
In the latest X Platform post, IntoTheBlock mentioned that 70% of these transfers occur on the Tron network, making USDT the preferred choice for transactions. As a stablecoin, Tron has low fees and smaller price fluctuations. These factors have contributed to the reduction of transaction fees and increased the popularity of USDT.
Additionally, IntoTheBlock highlighted that 94% of the total value of USDT is locked within the Tron ecosystem. Meanwhile, USDT’s market capitalization is also showing a positive outlook. According to IntoTheBlock, USDT reported a healthy profit of $5.2 billion in the first half of the year.
USDT’s market capitalization reached $120 billion, and the overall stablecoin market growth also increased. USDT has seen its largest market cap growth since Terra’s UST crash. According to IntoTheBlock, this paves the way for USDT to take the lead in terms of growth.
