• Final week, Tron’s USDT buying and selling quantity briefly surpassed Visa’s common.
• The 24-hour buying and selling quantity on the Tron community reached $53 billion on June 21.
• Volksbank Raiffeisenbank Bayern Mitte has appointed Andreas Streb as Chief Government Officer.

Two vital occasions occurred within the cryptocurrency business final week: Tether (USDT) buying and selling quantity on the Tron (TRX) community briefly surpassed the typical each day buying and selling quantity of funds big Visa, and $6 billion market cap Deutsche Financial institution appointed a Bitcoin-friendly CEO.

On June 21, blockchain analytics platform LookOnChain noticed that 24-hour buying and selling quantity of USDT on the Tron community reached $53 billion. LookOnChain famous that Tron USDT each day buying and selling quantity surpassed Visa’s common each day buying and selling quantity of $42 billion within the first quarter of 2024.

Notably, USDT buying and selling quantity on Tron didn’t come as a shock to many crypto customers, given the latest historical past of stablecoins. Final March, Christopher Morris, founding father of African crypto fintech platform Yellowcard, ranked USDT as probably the most used cryptocurrencies in Africa.

In an interview, Morris emphasised that Africans are more and more turning to Tether, a stablecoin pegged to the U.S. greenback, on low-cost networks like Tron to guard their cash from hovering home inflation, noting that USDT liquidity is greater on Tron than on different well-known blockchain networks like Ethereum.

In the meantime, the info makes TRON the twelfth largest blockchain community by market capitalization. The stablecoin community's market capitalization is round $10.3 billion, with its native cryptocurrency, TRX, buying and selling at $0.1184 on the time of writing.

In related information, German regional financial institution Volksbank Raiffeisenbank Bayern Mitte has appointed Bitcoin-friendly financial institution govt Andreas Streb as its new CEO. Streb's appointment follows the announcement a number of weeks in the past of the financial institution's former CEO, Richard L. Riedmeier, who introduced his retirement. Based on a June 21 report, Streb will take over as CEO of the financial institution early subsequent yr.

Streb, who pioneered VR Bayern Mitte's Bitcoin-specific program, believes that the financial institution's participation in this system has established it as a job mannequin for the specialty throughout Germany.