TRON Its blockchain and native token TRX has managed to outperform other leading crypto assets even during the recent crash. The good performance of USDD, the stailbcoin of the TRON blockchain, had a significant impact on the total value (TVL) locked in the network.
In the light of all these developments, TRX has gained an average of 30% in the last 30 days and left behind the declines in the markets. The total market capitalization of TRX is currently around $7.67 billion.
USDD Changes TRX’s Trajectory
stablecoin USDDmade an important move by filling a huge gap left by the massive collapse of TerraUSD. USDD’s total supply surpassed 601 million in the first month of its launch. The increase in market capitalization certainly played a key role in making the TRON blockchain stand out as the biggest winner. TRON’s TVL has increased by more than 13% in the last 7 days. Meanwhile, USDD’s 24 trading volume increased 37% to over $85 million.
TRON’s TVL increased by 45% last month and crossed a significant threshold. The locked value is currently at $5.94 billion. On the other hand, major players such as Ethereum (ETH) and Binance Smart Chain (BNB) recorded a big drop. ETH’s TVL dropped more than 37% at the same time to reach $70.2 billion.
Locked Value in TRON Network Approaches $6 Billion!
Standing out as the second largest blockchain, the total locked value of BNB decreased by 28% to $8.8 billion. If TRON manages to maintain its momentum, it could surpass BNB in terms of locked value in the coming weeks.
USDD, which inflicted great loss on its investors TerraUSD released just a few days before the start of its collapse. Since then, the stablecoin has managed to take over the free space. However, the token carries similar algorithms as Terra. During the launch, the TRON DAO Reserve talked about the basic risk-free interest rate adjustment of 30% per annum. This commitment was even compared to the Anchor Protocol on Terra, which offered a 19.5% APY on UST.
Disclaimer: What is written here is not investment advice. Cryptocurrency investments are high-risk investments. Every investment decision is under the individual’s own responsibility. Finally, Koinfinans and the author of this content cannot be held responsible for personal investment decisions.