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ETH Volumes Top $119.5 Billion in Q3: High-Risk Dapps Dominate Tron Network

A recent report says total Dapps transaction volumes reached $125 Billion in Q3 2020, a figure which is $113 billion higher than in Q2 2020. From these volumes, the Ethereum blockchain accounts for 96% or $119.5 billion of the total created value with the majority of this being attributed to the DeFi ecosystem. Still, the report observes that the EOS and Tron blockchain, where gambling and high-risk category account for 60% of activity, are the only competing chains to offer Ethereum a challenge, albeit a very limited one. Compiled by Dappradar, the report says the Ethereum blockchain was able to…

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Tether’s Stablecoin Dominance Drops Below 80% as Audit Controversy Lingers On

The total volume of stablecoins in circulation is closing in on the $20 billion mark, while the market-leading coin, USDT’s share of the total circulating supply continues to shrink, data from Coinmetrics shows. According to the data, USDT now accounts for an estimated at 80% of total supply, and the majority of the coins are now issued on the Ethereum and Tron networks. Out of the total supply, the USDT-ETH accounted for approximately 53% while USDT-TRX took just over 20% of USDT’s total circulating supply. On the other hand, USDC, which has a market capitalization of $2.53 billion according to…

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Bitgo Plans to Launch Wrapped Bitcoin on the Tron Blockchain

Soon there will be another network that allows people to tokenize BTC in order to leverage the underlying blockchain’s speed and fees. On September 24, Bitgo, the custodian of the Wrapped Bitcoin project (WBTC), the most popular tokenized BTC platform to-date, announced a partnership with Tron. Members of the crypto ecosystem will soon be able to leverage WBTC via the Tron (TRX) network. Just like the tokenized BTC created using Ethereum’s ERC20 token standard, the Wrapped Bitcoin (WBTC) team will utilize the TRC20 token standard from Tron’s infrastructure. Similarly, all the BTC deposited is backed by the Bitgo Trust, and…

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Tether Prints $300 Million, While XRP Reclaims Third Spot

Tether Ltd printed a total of USDT 300 million Wednesday and this brought the total coins created to 540 million in the last three days alone. The latest USDT printing will see the top stablecoin’s market capitalization significantly passing the $10 billion mark. Responding to a whale alert twitter post, however, Paolo Ardoino the CTO at Bitfinex, explains that the latest printing is for purposes of replenishing inventory on the Tron Network. “Note this is an authorized but not issued transaction, meaning that this amount will be used as inventory for next period issuance requests,” says Ardoino. Ardoino’s response, which…

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