Despite the growing uncertainties in the global cryptocurrency market, the Tron ecosystem is on the rise.
The USDD stablecoin and Tron’s native token had survived the recent crash. According to the data, USDD entered the top 100 cryptos just a few weeks after its launch.
The USDD 24 hour trading volume has increased by 18%
Following the fall of Terra’s LUNA and UST, investors have been keeping an eye on the TRON ecosystem. The newly launched stablecoin USDD, which uses the same mechanism as TerraUSD has now exceeded the total supply of $463 million. Its 24-hour trading volume has increased by more than 18% to stand at $159.4 million.
USDD was launched just as the market crash started getting intense. Given the token offers a 30% yield, investors have flocked to USDD and are staking it across numerous DeFi platforms.
Tron has been continually burning TRX tokens to keep the momentum going. According to the announcement, they have cumulatively delivered over 5.8 billion TRX tokens (about $450.1 million) to a dead wallet till now. Over 1.1 billion tokens were burned on May 22, 2022. On May 21, 2022, about 397 million tokens were burned.
TRON Blockchain has entered top 3 chains
In the last 30 days, the TRX token has increased by over 15%, while Bitcoin has declined by 22% in the same time. At the time of writing, the Token was trading at an average price of $0.0771. Its 24-hour trading volume has increased by 36% to stand at $998 million.
The TRON blockchain has entered the top 3 chains, according to DeFi Llama. Over the last day, its Total Value Locked (TVL) has climbed by a massive 19%. Tron has a TVL of $5.2 billion. Meanwhile, its TVL has increased by more than 24% in the last month. Ethereum’s (ETH) locked value, on the other hand, has dropped by 36% in the same time.
