CandleFocus CryptoQuant CEO Says Ethereum Rival Has Achieved Strong Market-Product Fit Hosting $60,000,000,000 in USDT
2024-11-27
Author: Content Editor
According to the chief executive of analytics firm CryptoQuant, an Ethereum competitor, Tron (TRX), has gained a significant share of USDT stablecoin transactions. The value of USDT hosted on Tron is now more than three times the blockchain's market cap. Tron processes 92% of USDT transactions and holds $60 billion in USDT, despite its market cap being $17 billion. Tron-based USDT is widely used in global trade for its low-cost and fast stablecoin remittances. The CEO praises Justin Sun, the founder of Tron, for building the largest global stablecoin trade remittance system. The CEO also states that it is too early to classify Bitcoin as being in a bubble, as its market capitalization has not significantly exceeded its realized capitalization. Based on current realized cap, the CEO suggests that Bitcoin could rise to $141,000. At the time of writing, Bitcoin is trading at $98,223.
Related News
Bitcoin has a 50-50 chance of reaching $100K by year-end: Options data WalletConnect launches first airdrop season with 50 million tokens allocated to community members Judge denies appeal from promotor accused in $18M crypto fraud case Pepe whale sells 254.65B tokens: Does this signal bearishness? Helium: 25% rise imminent for HNT? 2 factors suggest… Fantom (FTM) Defies Market Downturn, Eyes 40% Rally Here Are Three Promising Altcoins for the Next Crypto Market Bounce, According to Top Trader Crypto Gains Let Poor People Buy Houses, U.S. Research Finds, But Risks May Lurk Litecoin Price Forecast: Whales invest $950M in 73-day buying spree amid LTC ETF approval rumours Mapping Aave’s 2024 growth: Is $200 the next target in 2025? Economic Secretary Outlines UK's Ambitious Plans for Digital Asset Adoption Trump's Crypto Aide: Crypto to Become the 'Most Critical' Voter Block in the US Vitalik Buterin Sold His Meme Coin Holding, But Why? SOL Bulls in Focus: A Make-or-Break Week Ahead? Bitcoin’s Price Dip Triggers Alert On NVT Golden Cross—Here’s What To Watch For Ren Protocol Breaks Silence with Upgrade News Amid Binance Delisting Drama Bitcoin could drop 20% if moves stay tied with M2 money supply: Analyst BIS highlights DeFi’s role in liquidity; Malaysia eyes CBDC Japan’s $140B Economic Stimulus: Key Measures to Boost Growth and Consumer Spending XRP Price Stabilizes at $1.30: Can Momentum Build? Oracle Corp again sues crypto firm for alleged trademark infringement XRP Price Prediction Today: Breakout or Breakdown? Cardano Price Prediction For November 27 Will Telegram’s Crypto Holdings Keep Rising After Reaching $1.3B in H1 2024? Solana's Pump Fun Denies SOL Sale Despite $138M Deposit to Kraken The Unmatched Advantages of SFTs: A New Era in Tokenized Assets SEC News : Is Paul Atkins What Crypto Needs Now? Market turns for L2 tokens after months of sideways trading Drug cartels are reportedly using Tether (USDT) for money laundering Japan's FSA Pitches Relaxed Regulation for Crypto Brokerages Crypto miner MARA wants US moving quicker to gobble up Bitcoin Ethereum Price Maintains Strength at $3,250: Upside Ahead? 5 Exceptional Use Cases of Semi-Fungible Tokens in Modern Blockchain Applications Financial markets lack faith in the BoE’s ability to curb inflation AI, Tesla, DOGE: Here’s how Elon Musk’s bold bets are reshaping his $300bn empire Bitcoin Adoption Grows As Rumble Unveils $20 Million BTC Treasury Strategy Bitcoin Price Holds Firm Despite Dip, With $92.5K Mark Seen as Crucial 5Innovative Cryptocurrencies to Track for a Thriving 2024 Bitcoin Price Corrects to $90K: Healthy Dip or Cause for Concern? Gate Card: What Is the Centralized Exchange’s Crypto Card? Suriname presidential candidate eyes on Bitcoin as currency Economist Alex Krüger Predicts Runs for Bitcoin, Altcoins and Memecoins, Sees March 2025 Turbulence What The 50-Day Moving Average At $0.22 Says About The Dogecoin Price Institutions Just ‘Waiting To Buy Up’ Bitcoin, Says MARA CEO What Will Change for Bitcoin and Cryptocurrencies After Trump Becomes President? Here’s What Wall Street Experts Say Aave price prediction 2024-2030: Is AAVE a good investment? Ripple Drops Another $25M Into Crypto PAC to Sway 2026 Congressional Races CryptoQuant CEO Sees No FOMO in Retail Bitcoin Activity Despite Price Fluctuations zkLink Partners with Delysium to Explore AI and Blockchain Integration XRP Price Prediction for November 27 XRP, ADA Omitted From Wyoming Stablecoin Project Amid Legal Tensions 100k or 80k; Where is Bitcoin Price Heading by November End? Trump's Bitcoin Backing and Supply Chain Agenda Could Position El Salvador as Key Ally: VanEck PEPE Price Drops After 105% Monthly Gains: How Long Will the Correction Last Shiba Inu’s $1 Dream: Can a 99% Burn Make It Happen? What the UK’s FCA is focused on while drawing up its crypto regime CARV Partners with Mind Network to Build a Privacy-Driven Web3 Ecosystem Are Charles Schwab spot crypto ETFs coming? OpenAI’s Sora text-to-video tool leaked by aggrieved beta testers Bitcoin ETF volume reached $5b as Bitcoin price dropped $91k The Current Correction In Bitcoin Is The Last Before A Major Rally—Here’s Why CryptoQuant CEO Says Ethereum Rival Has Achieved Strong Market-Product Fit Hosting $60,000,000,000 in USDT Top Generative AI Tokens Revolutionizing Decentralization in 2024 BlueSky Sees Surge in New Users and Child Pornography Former Solana Foundation employee starts US media company ‘Massive’ — BuilderNet aims to solve Ethereum’s centralized block problem Bitcoin could fall to $88,000 before making another attempt to break $100,000 – Glassnode Tornado Cash Sanctions Overturned by U.S. Appeals Court Bitcoin Crashes Under $93,000: What’s Behind It? Crypto Whale Pockets $4.81M in Gains from $PEPE on Binance The Best Cryptocurrencies to Invest in November for Unmatched Returns in 2025 Big victory in Tornado Cash case as judge says OFAC exceeded authority Dogecoin (DOGE): Dreams of $1 Over? Sharp XRP Skyrocketing Still Possible, Cardano (ADA) Stronger Than Everyone Else 5 Cryptocurrencies Poised for a Big Future: A Look at Their Potential Top Centralized Exchange (CEX) Tokens Driving Blockchain Innovation and User Engagement Electricity shortages thwart Russia’s AI ambitions, despite crypto mining bans Is the Metaverse Sector Alive? Latest Developments in the Virtual Space