Fri. Jul 1st, 2022

Tron took off 44% and now ranks as the third largest blockchain in terms of TVL. Tron, Tronix or TRX are designed to beat Bitcoin Y ethereum on your tracks with faster, cheaper and smarter transactions.

tron it does not have a maximum supply, unlike Bitcoin, which means it has removed the element of scarcity, making it dwarf the “king of cryptocurrencies”. Despite its recession in 2021, many investors have remained bullish on Tron. TRX’s current TVL is now $5.9 billion, a figure it reached in just one month. The only two blockchains ahead of Tron are Ethereum and Binance Smart Chain, which currently have a TVL of $93 billion and $10.8 billion, respectively.

Is Tron like Tether? not likely

Tron is expected to accelerate its growth this year. In fact, it is the only blockchain that has been growing tremendously this year. Other blockchains like polygonal, ethereum, phantom, Solarium, BNB Chain Y avalanche have been reduced in TVL during the last month. Tron’s bull run is said to be triggered by the recent launch of its algorithmic stablecoin, which promises generous returns. It is often compared to Tether, but they are quite the opposite. TRX and USDD are not tied to anything, unlike Circle’s USDC and Tether’s USDT, but instead are governed by smart contracts. Investors have the option to trade 1 USD for $1 of TRX. If the price of USDD falls below parity with the dollar, investors can choose to buy USDD for a lower price and then exchange it for TRX, profiting from the sale of TRX tokens. Like Terra, USDD promises that investors can make at least 20% profit or more. Like Terra, USDD also promises investors more than 20% per annum in return on multiple TRX-based initiatives.

Total TRX Market Cap at $7.90 Billion on the Daily Chart | Source: TradingView.com

Market capitalization USDD to $602 million from $90 million

Investors can increase their income by staking their USDD-TRX tokens. JustLend USDD’s rate is now at 23% as it jumped from just $1.79 billion to $2.86 billion in just one month. Investors can quickly generate 64% income on SUN, a stablecoin platform. These platforms are now enjoying massive growth activity with the increase in fees. Protocols like SunSwap, JustStables, and Sun.io have seen an upward trend in TVL over the month. The TVL of SUNSwap increased by 6.18%, while the TVL of Sun.io and JustStables increased by 140% and 15%, respectively. While Terra’s UST is larger, USDD it has grown remarkably in market capitalization in a short period. USDD now has a market cap of $602 million and approximately 601 million tokens in total supply. The current figure shows how massively it has grown since its $90 million launch on May 5, 2022.

By Farwa Raza

Farwa Raza is a writer who specializes in news articles. She has been writing on wttspod.com for over one years, and during that time she has written over 100+ articles on various topics ranging from politics to entertainment. Her goal as an author is to provide readers with the latest news stories while also providing her own opinion on them.