The TRON (TRX) token increased by up to 10% on Monday after the number of accounts on the blockchain reached a new high of 90 million.
The Tron Ecosystem has also outperformed the broader crypto market in the last week, while giants like Bitcoin (BTC) and Ethereum (ETH) have decreased. The anticipation of an impending stablecoin is a major motivator of blockchain interest.
The number of Tron users has surpassed 90 million.
On Monday, the Tron network reached a significant milestone. The team said that the total number of accounts on the TRON network has finally surpassed 90 million.
It went on to say that the network has over 3 billion transactions and that new people are entering the chain every day. Meanwhile, TRX’s 24-hour trading volume has increased by more than 30% to $1.81 billion.
In the last 24 hours, the Tron Ecosystem has topped the list of the highest performing category of tokens. According to coinmarketcap, the coins in its ecosystems have increased by 51% overall. TRON recently stated that it will invest $600 million in BTTC projects to support its ecosystem tokens.
At the time of writing, the TRX token was trading at an average price of $0.072. TRX prices have also risen 10% in the last seven days in anticipation of the blockchain’s new stablecoin.
Tron stablecoin is on its way.
TRX’s price is being led by the recent release of its own stablecoin by founder Justin Sun. USDD, or Decentralized USD, is the moniker given to it.
Sun stated that they intend to generate more than $10 billion in liquid assets in order to keep the USDD’s dollar value stable. Meanwhile, the Decentralized USD is set to go live in only three days. The TRON network claims that USDD would usher in a new age for stablecoins. Tether (USDT), the most valuable stablecoin, has a market valuation of more than $83 billion.
Terra’s UST—a more direct comparison for USDD—is worth approximately $18 billion.
Over $2.56 million of TRX has been liquidated in the last 24 hours, according to Coinglass. Meanwhile, Whale Alert revealed that some whales moved more than $53.3 million in TRX tokens off exchanges in the last 24 hours, most likely to lock in profits.