Bitcoin’s 4th Largest Exchange to Support Tron Stablecoin
The liquidity of the Tron network is about to go to the next level. As we previously reported, Tether is expanding its USDT product to the Tron blockchain. Now the community has heard from a veteran exchange – USDT-Tron is going to list on OKEx.
4th Largest Bitcoin Exchange to Support USDT-Tron
OKEx is the 4th largest Bitcoin exchange by adjusted volume. In a note today, OKEx says:
In order to meet users’ demand for stablecoin trading, OKEx will support USDT-TRON, the TRC-20 based USDT token co-developed by TRON and Tether, as well as the airdrop for USDT-TRON holders. By then, OKEx will support three protocols of USDT, namely USDT-Omni, USDT-ERC20, and USDT-TRON. Please stay tuned for our further announcements.
Centralized exchanges are not the real beneficiary of USDT-Tron, however. The majority of Tron tokens trade on decentralized exchanges which run directly on the Tron blockchain. TRX itself already has some stablecoin markets, including at Binance.
As soon as USDT-Tron launches, the liquidity of the Tron economy reshapes: every token will have a price in both TRX and fiat. It’s similar to how ERC-20 assets have a price in fiat, a price in Bitcoin, and a price in Ethereum. Fiat price and demand have a way of dictating the actual value of the tokens.
USDT-Tron: Great for TRX Tokens
Currently, being based solely on the TRX price makes the potential value of TRX tokens like 888 or Ante intimately connected to the market swings of Tron. Tron has been trading in a range of .02-.025 for quite some time.
Tether is the oldest pegged stablecoin. Its model has been followed by several others, including itBit’s Paxos Standard, the Gemini Dollar, and of course TrueUSD – which many traders view as the most solid of the stablecoins. The question now is who will be next to cross the blockchain barriers, as most stablecoins are only available on Ethereum.
