Tron founder and HTX Global Advisory Board member Justin Sun caused a stir with his post on social media. Sun announced that they have developed a new solution to perform stablecoin transfers without gas fees. In other words, users will not pay any gas fees during the transfer. The fees will be fully covered by the stablecoin itself.
Important stablecoin move at Justin Sun!
As you have been following on Kriptokoin.com, Tron founder Justin Sun is making a name for himself with his moves in the crypto world. This innovation that Sun mentioned will first be implemented on the Tron Blockchain, followed by support for Ethereum and all EVM-compatible public blockchains. The Tron inventor stated that they plan to launch this service in the fourth quarter of this year. He also noted that similar services will greatly incentivize large companies to use stablecoin services on Blockchain. In this regard, Sun shared the following statement:
Our team is developing a new solution that enables gas-free stablecoin transfers. In other words, transfers can be made without paying any gas tokens, and the fees are fully covered by the stablecoins themselves. This innovation will first be implemented on the Tron Blockchain and will later support all Ethereum and EVM compatible public Blockchains. We expect to launch this service in Q4 of this year. I believe that similar services will greatly facilitate large companies to use stablecoin services on Blockchain and will take the mass adoption of Blockchain to a new level.
TRON Network breaks record for daily stablecoin transfers
In the digital finance space, TRON Network has recently witnessed notable activity in the stablecoin ecosystem, as reported for the period from June 28 to July 4, 2024. According to the data, the average daily transfer volume of stablecoins increased to $13.93 billion across various stablecoins. These stablecoins include USDD, USDT, USDJ, TUSD and USDC.
This increase shows the huge trading volume on the stablecoin side of the TRON ecosystem. It also further increases its importance in the modern cryptocurrency world. At the same time, the total market capitalization of stablecoins on TRON reached $58.115 billion, proving their importance in creating secure and stable transactions in the digital space. Among all stablecoins, Tether has become a recognized leader, occupying 98.29% of the market. This dominance corresponds to approximately 57.12 billion USDT in last week’s transactions. This shows how important and influential the coin is for TRON network users.
Stablecoins boost TRON DeFi stability and growth
These developments underscore how important stablecoins are for price stability and the smooth running of business within DeFi. As stakeholders and investors observe such trends, they are indicators of the continued growth and development of financial instruments. These trends will also determine the development of blockchain economies.
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