USD Coin $USDC on Tron surpasses $1 billion as $USDD staking APYs go through the roof w/justinsuntron
This addition pushes the USDC supply on this blockchain above $1.24 billion in equivalent. USDC's core rival, Tether , issued $38.7 billion on Tron in equivalent.
Also, USD Coin becomes the second stablecoin to surpass $50 billion in market capitalization across all platforms. Besides Ethereum and Tron , it is also issued on Algorand , Solana , Stellar , Avalance , Flow and Hedera .USD Coin is backed by cash USD and short duration U.S. treasuries , as per its operator, Circle Inc.Tron is the most resource-efficient platform for USDT transfers; it charges $1 with no regard for the amount of the transaction.
It is worth noting that USDC is the only stablecoin that went through the recent market collapse without a significant de-pegging. On May 12, 2022, the USDC/USDT ratio spiked to 1:1 on some exchanges. At the same time, as the dust settles after thw TerraUSD collapse, H.E. Justin Sun reveals that Tron's stablecoin, USDD, can be staked with twice as much APY as UST has in Anchor Protocol .
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