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Tron's USDT Tokens Reach All-Time High, Accounting for Over 60% of Circulating Supply

Tether (USDT) tokens issued on the Tron (TRC) blockchain have reached a new all-time high of $46 billion, surpassing Ethereum's $36.8 billion and accounting for over 60% of USDT's circulating supply.

This milestone coincides with the fifth anniversary of the Tron mainnet launch, which has processed 5.6 billion transactions and has a total value locked of $5.7 billion. Tron's creator, Justin Sun, aims to elevate the network's on-chain stablecoin market cap to $100 billion by 2023 and position Tron as a more affordable and user-friendly alternative to Ethereum for stablecoin users. The ongoing civil lawsuit filed by the U.S. Securities and Exchange Commission against Sun for the unregistered offer and sale, manipulative trading, and unlawful touting of crypto asset securities relating to Tron and BitTorrent (BTT) tokens was also mentioned.

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