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The top stablecoins are booming on the layer-1 blockchain Tron (TRX), according to the crypto tracker Lookonchain.
Lookonchain notes that the value of USDT and USDC on Tron surged by $2.17 billion in the past week. USDT and USDC are the top two stablecoins by market cap, respectively.
The stablecoin issuer Tether minted another 1 billion USDT on Tron on Monday alone, bringing the total supply of USDT on the chain to $71.7 billion, according to the crypto tracker. Tether has minted 12 billion worth of the top stablecoin since the end of January.
Lookonchain also says the value of USDT and USDC on Tron increased by $623 million in the week leading up to April 21st, and $1.52 billion in the week leading up to April 14th.
The multichain AI analytics platform Nansen says Tron “has been owning the fee game” over the past 30 days, though the firm also notes Solana (SOL) has been “creeping behind.”
Source: Lookonchain/X
Nansen notes Tron has recorded $11.7 million in fees in the past seven days alone, with Solana clocking $8.75 million and Ethereum generating $4.75 million.
TRX is trading at $0.246 at time of writing. The 10th-ranked crypto asset by market cap is trading roughly even in the past week.
