According to CryptoPotato, there has been a significant increase in USDT transactions within the TRON ecosystem via TronDAO since early February, now averaging over two million transactions daily. The latest data compiled by IntotheBlock shows that the transaction volume is approaching the peak observed in January 2023. TRON DAO is a decentralized autonomous organization connected to a blockchain ecosystem, and USDT complies with the TRC-20 token standard on TRON, allowing transfers using various non-custodial wallets like TronLink, Trust Wallet, and MetaMask. TRON's popularity for stablecoin transfers, particularly with USDT TRC-20 tokens, stems from its scalability advantage over Ethereum, resulting in comparatively lower on-chain fees.
However, Tether, being a controversial entity in the eyes of several law enforcement agencies, has also brought its stablecoin, USDT, under scrutiny. Recent reports, including a United Nations study earlier this year, suggest a rising trend of money laundering and fraudulent activities in Southeast Asia utilizing USDT for payments and fund transfers, particularly via its TRC-20 protocol. Despite the intense scrutiny and backlash, USDT has grown significantly in tandem with market recovery, breaking above a milestone of $100 billion market cap earlier this month. In terms of expansion, Tether recently announced the launch of USDT on the Celo blockchain, making it the 15th network to accommodate the leading stablecoin, after Ethereum, TRON, Polygon, Avalanche, and Algorand, among others. Meanwhile, Tether has intensified its efforts to focus on artificial intelligence (AI) this year, with key areas of focus including the development of open-source, multimodal AI products to establish new industry benchmarks and collaborating with various entities to integrate AI solutions into market-oriented products, addressing real-world challenges.
