- Upbit Global introduces USDT support on the TRON network with no withdrawal fees.
- The TRON network processes 6.75 million transactions daily, indicating robust activity.
Upbit Global, a popular cryptocurrency exchange, has added support for the stablecoin USDT on the TRON (TRC20) network, allowing for deposits and withdrawals of this token.
To commemorate this achievement, Upbit stated that USDT withdrawals conducted via the TRON network will be free of charge. This fee waiver is a smart move to encourage more users to use the TRC20 network, which is well-known for its low transaction costs and efficiency.
Introduction of USDT Support on Tron network (USDT-TRC20)
Dear Traders,
Upbit is now live with Tron Network support for Tether (USDT) deposits and withdrawals.
Zero withdrawal fees will be applicable for withdrawals of USDT conducted through Tron network.
For further info,… pic.twitter.com/wh0FVZqjKt
— Upbit Global (@upbitglobal) July 11, 2024
Widespread Support for USDT TRC20 by Major Exchanges Reflects Growing Utility
HashKey Global, like Upbit, just announced comparable support for USDT and TRC20, bolstering its foothold in the global cryptocurrency exchange space.
This simultaneous adoption by large exchanges demonstrates USDT’s growing acceptability and utility on the TRON network, indicating that it has the potential to become the favored option for stablecoin transactions.
Separately, TRON’s CEO, Justin Sun, has remarked on his legal successes and the changing attitude toward cryptocurrencies in China. Sun stated in a personal tweet that, despite the lengthy procedure and the hurdles of fear, uncertainty, and doubt (FUD), he is confident in the results.
His long-term dedication to blockchain technology remains unwavering, and he maintains it despite the obstacles.
Despite the lengthy process and facing FUD, I was confident in the outcome. My long-term commitment to blockchain remains unwavering, and I will keep #BUIDLing.#TRON will continue making an impact by providing technology and services to individuals and organizations… https://t.co/P7UagCnu7t
— H.E. Justin Sun 孙宇晨 (@justinsuntron) July 11, 2024
CNF previously reported a rise in the TRON network, stating that it has been processing an average of 6.75 million transactions per day.
This excellent result demonstrates the network’s increasing activity and strength. TRON has also burned over 11 million tokens to maintain its deflationary objective and increase the value of the TRX currency.
Meanwhile, TRX is currently trading at $0.1357, reflecting a 1.80% growth over the last 24 hours. This price fluctuation demonstrates the market’s positive reaction to TRON’s continued development and strategic initiatives.
On the other hand, we previously reported that USDT’s market supremacy, fuelled by its widespread acceptance on the TRON network, posed a substantial challenge to traditional banking giants such as Visa. With a daily volume of $53 billion, USDT on TRON is quickly emerging as a strong competitor in the financial transaction environment.