While the cryptocurrency market is going through a difficult time, TRON (TRX), a blockchain-based, decentralized and Singapore-based altcoin project, is enjoying great success.
TRON Sets New Records
TRON is performing extremely well in terms of both weekly and daily earnings. According to CoinMarketCap, the altcoin gained 5.08% for 24 hours but then lost 2%. TRX tops the top 100 by market cap in terms of earnings, up 16.22% from the previous week. According to the current TRON DAO weekly report, the total number of accounts on the TRON mainnet has approached 100 million. This figure has reached 93.6 million to be exact. In addition, 1,476,689 new accounts were added in the week from May 16 to May 22. The total number of transactions on the network reached 3.21 billion, of which 33.59 million were registered in the last week alone. Its total locked value (TVL) on the blockchain has now reached $9.2 billion.
Finally, TRON Blockchain height exceeded 40.79 million with a total of 5,963 nodes across the network. This data was released by TRON DAO on its Twitter channel on March 24. In early March, there was a steady increase in the number of transactions and smart contract activity of Tron. Smart contracts accounted for over 60% of all transactions in the proof-of-stake (PoS) ecosystem.
Company Partners with Fireblocks
Fireblocks, which functions to create digital asset businesses, recently reported that it has signed a stunning partnership agreement with Tron. According to the announcement, the platform will support TRX and TRC-20 tokens. Tron founder Justin Sun will be exhibiting a number of rare NFT works from his personal collection at Alte Münze, Berlin, from May 25-26. Justin Sun also continues to promote the algorithmic stablecoin USDD. On May 23, Sun said that the stablecoin’s market cap could reach $6 billion in the near future. Although unlikely, this announcement has TRX investors hopeful. At the time of writing, USDD’s market cap was $463,104,423 and was ranked 94th by market cap.
Data from Santiment also showed that the market cap of USDD had increased by more than $50 million in the last day. This could also be a reason for TRX’s rally. However, it should be reminded that between May 11 and 13, USDD also lost its stable by falling to $0.98. It also has a similar working logic with UST.
