A recent report by cryptocurrency data analytics firm Messari highlights TRON (TRX) as a leading force in the adoption of crypto payments, particularly in emerging economies. The report indicates that TRON’s integration into these markets has positioned it as a flag bearer in the space.
According to Messari’s findings for 2024, an increasing number of individuals in developing countries are turning to USDT issued on the TRON network for its store of value and payment capabilities. Approximately 40% of USDT demand stems from its use as a stable store of value and a reliable payment method in these economies, pointing towards a shift to more equitable payment opportunities and stability.
Messari’s report also emphasizes TRON’s robust structure and accessibility as key factors in its frontline position in the global shift towards digital payment adoption. As of December 29, 2023, the platform has surpassed 6 billion transactions and boasts a user base of over 200 million.
Dave Uhryniak, TRON Ecosystem Leader, underscores the pivotal role of blockchain technology in shaping the future and the determination of TRON participants to create a more inclusive and efficient global system. His statements align with the broader vision of leveraging digital assets like USDT to enhance payments.
Furthermore, Messari’s report points to a significant user shift from traditional stablecoins like USDC to USDT on TRON, attributed to the protocol’s efficiency, lower transaction fees, and higher transaction speeds.
Similar to Bitcoin, Ethereum, and Litecoin, TRON operates as an unregulated blockchain protocol. In December 2021, it adopted a decentralized autonomous organization (DAO) model. TRON’s stablecoin, USDD, lost its dollar peg last year, prompting TRON DAO to inject $700 million to support the stablecoin. TRON DAO also launched the TRON Grand Hackathon in February 2022 in collaboration with BitTorrent Chain (BTTC). Meanwhile, TRX’s price has seen a 0.4% increase in the last 24 hours, trading at $0.1059, and has surged over 95% since the beginning of the year, buoyed by the positive sentiment in the crypto market.