Stablecoin transfers are being made by a large number of active addresses on the Binance Smart Chain (BSC) and Tron. But a further examination of the dollar amounts exchanged reveals a different picture, with Ethereum and Solana emerging as the front-runners.
It implies that even if there may be fewer individual transactions on Solana than on Tron or BSC, the value of the transactions that do occur is far larger. This might be seen as a sign that larger investors, or “whales,” who are transferring significant volumes of stablecoins, are now favouring Solana’s network.
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When one considers the type of transactions on Tron and BSC, the disparity becomes even more evident. These networks seem to target investors and retail traders more. For people who want to conduct regular, smaller transactions, these networks are appealing due to their reduced transaction costs. Tron, for example, is a cost-effective option for frequent use, with an average token transaction charge of about $2.
Because of its allure to whales, Solana has a distinct advantage over other networks in the market, particularly when it comes to liquidity and potential. Concurrently, the growing acceptance of Tron and BSC among retail players may have an impact on the creation of user-focused services and apps that take use of fast transaction throughput.
The final decision about the network may depend on the unique requirements and tactics employed by stablecoin users. The dollar volume advantage held by Solana suggests robust, but more concentrated, economic activity, whereas the active addresses of Tron and BSC indicate an ecosystem with a greater proportion of retail traders and investors.
