Ki Young Ju, CEO of CryptoQuant, pointed out TRON’s significant share in USDT stablecoin transactions. TRON (TRX) competes with Ethereum $3,356, processing 92% of USDT transactions and hosting over $60 billion in USDT assets.
TRON’s Market Share
Ki Young Ju emphasized that TRON has established a strong product-market fit in USDT usage, underscoring its leadership in USDT transactions. Despite TRX’s market capitalization being only $17 billion, the amount of USDT it holds is more than three times that value.
Founded by Justin Sun in 2017, TRON’s mainnet launched in 2018. Ki Young Ju stated that Sun built “the largest global stablecoin trading remittance system.”
Bitcoin Assessment
Ki Young Ju noted that it is too early to claim Bitcoin $94,449 is currently in a bubble. He explained that the gap between Bitcoin’s market value and realized market value has not shown a significant increase yet.
“TRX has achieved a strong product-market fit in stablecoin use cases.” – Ki Young Ju
TRON’s leadership in USDT transactions has made it a crucial part of global trade by offering low-cost and fast stablecoin transfers. Regarding Bitcoin’s future price movements, the CEO of CryptoQuant suggested that Bitcoin could rise to $141,000 based on realized market value.
Currently, Bitcoin is trading at $98,223. When calculated based on the last recorded on-chain price of all existing BTC, Bitcoin’s market value has not yet significantly increased.
The Future of TRON and Bitcoin
TRON’s success in USDT transactions provides significant insights into how blockchain technology can be used more effectively in financial dealings. Bitcoin, considering its realized market value, could potentially reach higher values.
TRON’s dominance over USDT illustrates the intense competition within the blockchain ecosystem. By offering users low-cost and rapid transaction options, TRON becomes a preferred platform.
Bitcoin’s price predictions may be promising for traders. As realized market value continues to rise, there are positive expectations regarding Bitcoin’s future value.