TRON (TRX) Surpasses BTC, ETH, and SHIB Profits Despite Controversial Algorithmic Stablecoin Launch
TRON is still giving good signs to investors, while holders of other cryptocurrencies are suffering losses because of the market downturn.
TRON (TRX) knocks SHIB out of the top 15
TRON is the only cryptocurrency among the top 15 tokens that has an inevitable return at the moment. The price of TRX has increased by 4.59% since June 2021, while no other asset on the list has seen such notable growth.
2022 is looking entirely different for TRON, as the token even knocked Shiba Inu (a meme coin with a market cap greater than $6 billion) out of the top 15 assets list. The token crossed by a significant margin, and the current value of all TRX is over $7.4 billion.
The token has seen a rally of over 60%.
USDD – Controversial Algorithmic Stablecoin
At the beginning of May, TRON launched stablecoin USDD, which is said to be a “Copy” of UST, and there are many doubts surrounding whether USDD will follow in the footsteps of UST?
But as proof of the future development of this stablecoin, Justin Sun asserts that USDD can survive by keeping USDD’s capitalization below that of TRX and will always be over-collateralized by less volatile assets.
The specific action was taken on June 5, TRON, increased the deposit rate of stablecoin USDD to more than 200%.
Earlier, in its announcement, USDD stablecoin announced that it would build a hedge fund, “TRON DAO Reserve establishment,” with assets up to 10 billion USD, similar to what Luna Foundation Guard intends to do. This fund receives the backing of many significant investment funds in the cryptocurrency industry, including Alameda Research, Amber Group, Poloniex, Ankr, Mirana, Multichain, FalconX, and TPS Capital.
Regardless of its performance, the asset has the support of investors who are present and actively participate in the network, thus driving the growth of the token.
Investors are still delighted because it delivers more effective returns than any other competitor.
DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.
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