New statistics have unveiled that the average daily volume of the stablecoin Tether (
USDT
) on the Tron (
TRX
) blockchain has exceeded that of Visa, the credit card giant.
According to a recent post on the social media platform X, market intelligence firm Lookonchain reported that Tether’s dollar-pegged digital asset had a 24-hour trading volume of $53 billion on Tron, which was a nearly 10% increase from the previous day, while Visa’s trading volume was at $42 billion.
“The 24-hour trading volume of USDT on Tron Network is $53 billion, surpassing Visa’s average daily trading volume. Visa’s trading volume in Q1 2024 was $3.78 trillion and the average daily trading volume was $42 billion.”


Source: LookonchainX
Lookonchain’s data also indicated that within the same 24-hour period, USDT had over 2 million transfers, showing a 5.14% increase from the previous day.
Earlier this month, Tether
revealed
the introduction of a new gold-backed stablecoin with overcollateralized reserves. Known as aUSDT, this digital asset will be backed by Tether Gold (XAUT), meaning it will have the support of physical gold reserves in Switzerland.
Paolo Ardoino, the chief executive of Tether, stated,
“While the stabilization mechanism differs from traditional options like USDT, this innovative solution represents an exciting milestone, and we are eager to see how it will interact with the rest of the market. Additionally, we intend to make this innovative technology available on our upcoming digital asset tokenization platform.”
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