Justin Sun is taking TRON’s stablecoin USDT is 30x cheaper than Tether and will soon become the most used stablecoin. As a result of this tweet, both USDT and TUSD prices have taken a tumble. The market reacted very positively to this tweet, providing additional evidence to suggest that TRX is much undervalued.
Justin Sun also shared a screenshot showing that USDT has serious liquidity issues. USDT is the most used stablecoin, but it only has an average volume of around $100 million. On the other hand, TUSD, launched in January this year, already has a trading volume of over $100 million. As the market becomes increasingly aware of this fact, they are increasingly becoming fed up with Tether.
- About Justin Sun’s Career
Justin Sun is a Chinese cryptocurrency entrepreneur and one of the biggest crypto personalities today. He is the founder and CEO of TRON’s blockchain platform and a representative for the cryptocurrency exchange BitTorrent.
Sun’s is regarding USDT, a stablecoin created by Tether Limited (also owned by Sun). Tether has been facing serious accusations that it doesn’t hold USD backing for every USDT in circulation.
USDD is currently over-collateralized, and the collateral is based on the number of USDT coins in circulation. Justin Sun thinks this transparency is a great feature and plans to implement it on their exchange TronDex. He states, “USDD’s collateral is more transparent, stable, and secure than Tether’s.”
Justin Sun is one of the most important cryptocurrency figures today, and his predictions are always taken positively by the market. If USDD is indeed in 30x demand than TUSD, then it would be an important positive signal for the markets, which have had a bearish trend over the last several months.