Tron’s native token, TRX, has now overtaken Shiba Inu (SHIB) to become the 14th-largest cryptocurrency by market value.
The Tron Ecosystem has thrived to become the biggest gainer surviving the recent crash. Proactive steps taken by their team have proven to be worked for them. The TRON chain has registered a significant gain in its total locked value (TVL) over the past month. Its TVL has surged by over 33% to stand at $5.5 Billion.
TRX prices up by 30% over last 30 days
Tron’s native token TRX and stablecoin USDD have come out to be the top choices of investors. In the last 30 days, when the biggest cryptocurrencies saw a freefall, the TRX token prices surged by over 30%. Meanwhile, Bitcoin (BTC) is down by 22% at the same time. In order to support this surge, Tron reported a burn of $39.09 million worth of 499.9 million TRX tokens.
Meanwhile, a similar transaction of sending $8.5 million worth of 106.5 million TRX tokens to an unknown wallet was recorded in the past 24 hours. However, it is not clear whether it was a burn transaction. As per the Tron Community, May 24, 2022, registered a burn of around 520.4 million tokens. TRX is trading at an average price of $0.08, at the press time. Its 24 hours trading volume has increased by 25% to stand at $1.6 billion.
TRX overtakes Shiba Inu
Tron’s stablecoin USDD is trying to grab the opportunity to fill the gap opened due to the collapse of TerraUSD. Within the first month of its launch, the total supply of USDD surpassed 543 million. Its 24 hour trading volume stands at $105 million.
Tron’s recent success is helped the TRX token to overtake the second largest meme cryptocurrency, Shiba Inu. TRX has become the 14th largest crypto with a market capitalization of $7.69 Billion. SHIB has consistently lost its value since the beginning of the year. Shiba Inu has slid to the 16th spot with a market cap of $6.3 Billion.
Earlier, TRON DAO Reserve informed that they have secured the $82.3 million worth of Bitcoin, $181.6 million worth of TRX tokens and $295 million worth of USDT among others.
- Uniswap ($UNI) Surges 45% As Trading Fees Surpass Ethereum
- Ethereum Merge Delay? Developers Concerned Over Shadow Fork
- MINA Price Jumps By 20% Over This Announcement
- Bitcoin Mining Data Suggests More Price Dumps Ahead; Details
- This Bitcoin Bear Market Is Unlike Any Other, Here’s Why
- Here’s Why Shiba Inu Ecosystem Tokens’ Prices Are Shooting Up
- Goldman Sachs Likely to Raise $2 Billion To Acquire Celsius Assets, But Here’s the Catch
- Here’s Why SEC Chair Wants Single Rulebook For All Crypto Trading
- Huge Cardano Breakout Imminent After This Resistance Level?
- Shibarium To Launch Soon; How It Can Pump Shiba Inu Prices?
- NEAR Price Analysis: Reversal Within Channel could Sink NEAR Below $3
- Solana Price Analysis: SOL Price Rallying North With Eyes On $59
- XRP Price Analysis: Trendline Reversal Could Dump XRP Back to $0.3
- AXS Price Analysis: Rising AXS Price Aims To Reclaim $17.6 Mark
- Polygon Price Analysis: Can Trendline Breakout Lead MATIC to $0.75?
- ArbiSmart Price Analysis: RBIS Retests Multi-month Support; Buy this Dip?
- Waves Price Analysis: Emerging Pattern Threatens to Break $4.16 Support
- Apecoin Price Analysis: Trendline Fakeout Could Tumble APE by 25%
- Uniswap Price Analysis: Can Ongoing Recovery Carry UNI Price to $8?
- SHIB Price Analysis: $0.00001 Breakout Could Pump SHIB by 33%