- Tron is still the most preferred blockchain for stablecoin following Ethereum.
- According to a Messari report, Tron registered over 1.3 million new wallet addresses in December.
- Tron (TRX) performed well in 2022 during the crypto winter.
Tron has solidified its reputation as the most preferred blockchain for stablecoins right after Ethereum, according to the Q4 2022 report of Messari.
The major driver for Tron’s dominance is Tether USD (USDT), which remains the leading stablecoin in market capitalization. As to why this is the case, transferring USDT via TRC-20 smart contracts costs a fixed fee of $1.
Tron founder Justin Sun celebrated the success of the network, citing his goal of “universal adoption of blockchain technology” as the primary motivation for their continued efforts for the network.
Other highlights in the Messari report include an addition of 1.3 million new Tron wallet addresses on December 10, 2022. In addition, USDD, another stablecoin pegged to the US dollar price, continued gaining traction after its launching late last year. This stablecoin has been heavily promoted by Sun.
Sun’s crypto projects, particularly tokens under the Tron network, started enjoying the status of legal tender in the Commonwealth of Dominica last year as well. This is because Tron struck a partnership with the Caribbean nation to develop its blockchain infrastructure.
Despite the crypto market being plunged into a chilling winter season last year, Tron has fared relatively well. Its native coin TRX returned to the top 20 list and is currently sitting at #18 on CoinMarketCap.
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Jesus covers news related to the crypto space in Asia and in Australia, although he follows the latest events in the US and Europe as well. He is most interested in the blockchain gaming and regulation aspects of the industry.
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