- The Tron Network is looking to maximize performance, even higher than the dominant Ethereum and Bitcoin transaction processing speeds.
- The recent sharp growth in TRX token value can be attributed to the launch of the USSD algorithmic stabilitycoin, which has seen high adoption.
The team from the blockchain, led by Justin Sun, has proven to be a great investment. Not only has it weathered digital asset market turmoil, but it has also flourished in the face of bearish sentiments.
The total value of assets locked on the Tron blockchain has gone up from $4.19 Billion (May 17) to an impressive $6.06 trillion at the time of writing. This chain has outperformed the market even during the swell. Avalanche and Solana have seen a decline in the total locked value over this period.
Tron Beats Monthly Earnings Chart Among Top 10 Blockchains
Data from Defi Llama reveals that Tron’s TVL has grown by 51% in the last month. There have been 7-day gains in TVL of 15%. On the other hand, the other top 10 cryptocurrency companies have seen a net loss of more than 25% in 30 days.
This victorious platform also has the distinction of being the only one to experience growth across all its major networks. The platform’s four leading protocols, JustLend, JustStables, SunSwap and Sun.io have seen remarkable TVL growth, with the latter leading with 172%, followed by JustLend at 66.72%.
Tron’s USSD Stablecoin Responsible for Impressive Growth
The USSD stablecoin has had remarkable stability and double-digit returns in the month since its launch, compared to UST. In contrast to USSD, other US dollar-backed stablecoins are asset-backed. It is instead powered by smart contract algorithmic power.
The dollar peg is created by exchanging the stablecoin USSD for the mother token TRX. Investors can exchange one unit for $1 of TRX token. If the price of the coin drops below $1, owners can purchase the USSD at a low cost and then exchange it for their token, making a profit on the open market.
The Stablecoin Project shared an update over the weekend that the USSD total supply has exceeded 601,000,000 tokens and has a market capitalization equal to $601million. This means the market capitalization has increased by approximately 567% since launch, when it was $90million.