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Price Updates, Recent Developments, Future Events, Community -Breaking

by Mike Robinson

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TRON (TRX), Price Updates, Latest Developments, Future Events and Community
  • TRON DAO’s much-anticipated algorithmic stablecoin (USDD), was launched on May 5th.
  • SunSwap is supporting the USDD, as well as PancakeSwap. Ellipsis has three members who joined the TRONDAO.
  • TRON announced also that $600 million would be spent on expanding its DeFi ecosystem and building a USDD mainnet.
  • TRX has been ranked as one of the 100 top cryptos that have performed well in bearish markets, posting gains of 18%.

TRON, which is described as a decentralized, blockchain-based operating platform, is the most important blockchain project. TRON had more than 90 million users as of April 2022. It also has more than 3.1 Billion total transactions and $8 Billion in total value (TVL)

TRON, which has been the subject of a string of announcements recently, is gaining momentum and outperforming all other cryptos among the top 100. Why is this happening?

Recent developments

H.E. Justin Sun, the founder of TRON, announced the launch of the much-anticipated TRON-issued algorithmic stablecoin, called “Decentralized USD,” or USDD. TRON, along with a few blockchain experts, launched the USDD stablecoin.

SunSwap and Uniswap have already listed the USDD in their listings. PancakeSwap and Ellipsis are also familiar with it. Sun claims that the USDD algorithmically ties to the U.S. dollars to reach the ultimate goal of financial independence for everyone.

TRON DAO says that stablecoin’s initial supply will be 66 560,006.61 TRON, 3100 000 on, and 13 100,000.1 BNB Chain, via cross-chain protocol BitTorrent (BTTC).

TRONDAO has now announced three whitelisted members as well as the TRON Reserve’s reserve institutions. This announcement was made within hours of launch. Alameda Research and Amber Group join Poloniex Exchange as DAO members.

The whitepaper of USDD states that the USDD peg can be maintained by creating or destroying USDD supplies through a mint-and burn mechanism and an arbitrage Swap. More than $2 billion worth of TRX have already been burned.

TRON announced recently the allocation of the $1,111.111.111 ecosystem fund that they unveiled in November 2021. Sun V2.0 (justLend) were among the first to receive the funds. They received $24.899million in liquidity mining reward.

TRON will also distribute $150 million in mining and stake rewards via various competitive protocols within the ecosystem. This leaves $600 million.

Future Events

This is the first stage of a 4-stage roadmap. TRON DAO is now focusing on 2.0. It involves the Testnet launch and operation of USDD’s decentralized network.

The USDD decentralized testnet network will go live after it enters the Moon phase. This is where the USDD network will officially be made public. TRON then launches the USDD Mainnet phase 4.0 Mars.

TRON plans to use the $600 million remaining from its ecosystem fund for expanding its DeFi landscape. TRON will invest in unique, innovative DeFi projects through the TRON network.

Prices Updates

Tron’s native cryptocurrency TRX got off to a strong bullish start in May, gaining more than 45% in the first five days of the month. TRX was the top performer on May 5th, when all other altcoins suffered. TRX increased more than 10%.

TRON’s May 1 – 5 price chart. Source: CoinMarketCap

TRON’s rally in May saw the price of TRX rise from $0.064 to set a 90-day high at $0.08912. TRX trades now at $0.08066. That’s a drop of 3.7% in crypto market correction.

Chart of 7D prices for TRON (TRX) Source: CoinMarketCap

TRON has regained its place in the Top 20 Cryptocurrencies ranked according to market capital. TRON currently ranks 19th in the market capital of crypto projects, at $8.23 Billion.

Flipside

  • In a new update, the pseudonymous analyst known as Guy has warned that TRX’s rally after news of its new decentralized stablecoin doesn’t appear to have much momentum.
  • TRX’s price dropped in tandem with that of the wider crypto market after the warning.

Community

TRON has a solid development team and is one of the most exciting projects. It also benefits from being supported by loyal members. The launch of USDD and TRX’s recent rally saw members of the TRON community reaffirm their belief in the project.

@Zen_Eustass was the one who wrote:

Drew Wise wrote before the rally which saw TRX rise to the 19th most valuable crypto.

Debo Majumder believes more in TRX. He wrote.

What You Need to Care About

By offering a 30% annual yield on USDD initial deposits, TRON aims to outbid Terra’s UST, which is one of the fastest-growing stablecoin projects.

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