Tron Stablecoin (USDT-Tron) Earns a Place on OKEx, the Fourth-Biggest Bitcoin Exchange
The Tron network has continued to evolve over the last few years, providing blockchain support to multiple other tokens. Most notably, the USDT product from Tether was recently added, already giving the platform some positive attention. According to new reports, USDT is now stating that Tron is going to be listed on OKEx.
Presently, OKEx is considered to be the fourth-largest Bitcoin exchange, based on adjusted volume. According to the exchange, they added support for USDT-Tron in response to the “users’ demand for stablecoin trading. Soon, consumers can look forward to an upcoming airdrop, which will be supported by OKEx soon. At that point, three protocols of USDT will be supported as well, including USDT-Omni, USDT-ERC20, and USDT-TRON. The company said that there will be further announcements.
As reports from CCN show, the real beneficiary of USDT-Tron is not centralized exchanges. Most of the tokens on the Tron platform exchange on DEXs that run off the Tron blockchain. The TRX token from Tron has already established itself in stablecoin markets, including Binance.
Once the new stablecoin launches, the way that the liquidity with the Tron economy is utilized becomes totally different, since the token will include the price in both fiat currency and TRX. This setup is fairly similar to how ERC-30 assets have their price broken down into a fiat price, a Bitcoin price, and an Ethereum price. This information makes it easier to show what the value of the tokens actually is. Presently, being pegged directly to the TRX price connects the potential value of the TRX tokens, like Ante and 888, to the market swings. For quite a while, the token has traded around $0.02 to $0.025.
At this point, Tether is the oldest stablecoin, and the model has been the basis for multiple other stablecoins, like the Gemini Dollar and TrueUSD. However, the big question now is over the exchange that will eventually cross barriers on the blockchain. At this point, most stablecoins are only set up to be based on Ethereum’s blockchain.
Multiple other blockchains would definitely have a lot to gain from a boost in liquidity, like EOS, Cardano, and even Tezos. More liquidity means that trading into a stablecoin becomes easy with no need for a centralized exchange. Will any of these exchanges follow Tron’s lead?