Tron (TRX) Stuns Layer-1 Rivals With This Mega Transaction

Tron (TRX), the layer-1 network, has shocked the broader cryptocurrency market with its record USDT transaction outlook. An update from Arkham Intelligence on X shows that a staggering $1 billion worth of USDT has been minted on the Tron blockchain.

Zero fees: Tron’s game-changing advantage

This astonishing figure comes with a catch: it attracted zero fees. This remarkable feature of TRX explains its preference by users on the network. In comparison to other blockchains like Cardano, Solana, Ethereum and XRP, the blockchain has won over many users because of its cheaper USDT transaction rate.

Besides, Tron has a massive stablecoin liquidity that rivals other blockchains. The network remains one of the most user-friendly and convenient to use, especially for USDT transactions.

TODAY: $1B USDT minted on TRON

They paid $0.00 in fees.

Wow pic.twitter.com/NuNYRuj1Yc

— Arkham (@ArkhamIntel) August 20, 2024

Financial analysts say minting such a staggering $1 billion worth of USDT on another blockchain might have had huge cost implications that would have made the transfer initiator reconsider.

Over time, this has proven to be leverage that Tron has over its rivals in the space.

Surging popularity on meme coin market

Meanwhile, based on recent data, the Tron Network has made notable improvements on the meme coin market as traders profit from trading TRX-linked tokens.

Available data reveals that some traders made 100 times more profit trading Tron meme coins, an uncommon achievement in the niche. Industry insiders say the last time such achievements were recorded dates back to the early days of Pepe and Shiba Inu.

Additionally, Tron’s good fortunes recently received a boost as it got into the top 10 on the crypto market rankings after displacing Cardano. According to an earlier U.Today report, TRX, with a market cap of $11.98 billion, edged out Cardano to gain a foothold in the top 10.

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