Tether (USDT) is rapidly becoming the most popular Jetton on the TON blockchain. In the past 30 days alone, there have been 4,542,418 USDT transactions on the network, underscoring its growing adoption.

Around a month ago, USDT transactions on TON surpassed $300 million, further highlighting its rising influence within the ecosystem.

Meanwhile, the Bitcoin-Tether futures market has shown signs of becoming overleveraged. This is assessed by dividing the BTC-USDT open interest by the USDT reserves held on major exchanges.

This calculation includes both Ethereum- and Tron-based USDT, which together represent 97% of USDT’s total market capitalization, making the data quite reliable. The growing imbalance in leverage raises concerns about potential volatility in the market.

Not Just TON, But TRON Also Records Notable Growth 

In a separate but related development, the Tron network has seen a substantial increase in revenue. As of October 15, 2024, Tron’s revenue reached $7.28 million, representing a remarkable 170% increase from the $2.69 million reported on the same day last year. This growth highlights Tron’s expanding role in the crypto ecosystem, particularly as a key player in USDT transactions.

The rising usage of USDT across multiple platforms, including TON and Tron, points to the increasing relevance of stablecoins in the broader crypto market.

As the TON network gains traction with higher transaction volumes, USDT’s popularity is expected to continue climbing. However, the overleveraged state of the Bitcoin-Tether futures market signals potential risks that traders and investors should watch closely in the coming months.

Disclosure: This is not trading or investment advice. Always do your research before buying any cryptocurrency or investing in any services.

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