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Highlights
- The surge in the price of TRON crypto came as it launched a stablecoin and promised financial freedom.
- The TRON crypto is listed on almost all the big cryptocurrency exchanges like Binance.
- The circulating and total supply of the TRON crypto is 101.6 billion.
The price of the TRON (TRX) cryptocurrency soared over seven per cent over the previous day, and it was trading at US$ 0.08313 per token at the time of writing.
The trading volume of the TRON crypto was up 13.3 per cent to approximately US$ 2.8 billion. Meanwhile, the crypto market showed signs of recovery on Thursday morning as its market cap gained around two per cent to reach US$ 1.8 trillion.
Why is TRON crypto rising?
The surge in the price of TRON crypto came as it launched a stablecoin and promised financial freedom. Notably, TRON is a decentralized operating system based on blockchain technology, and it aims to give full ownership rights to makers of digital content.
The TRX crypto is the native utility token of the TRON network, and it can be used to reward content creators. TRON aims to help content creators who receive a small part of the income by giving them rewards.
On May 5, TRON announced that USDD stablecoin had been launched on the BNB chain, TRON, and Ethereum. The network claimed that the USDD coin has no risk and can give returns of around 30 per cent annual percentage yield (APY).
Also Read: ANKR crypto price is down and volume is up 18%. What's next for Ankr?
TRON also claimed that stablecoin could make financial freedom a reality in future. USDD is pegged to the US dollar, and it is an algorithmic stablecoin.
The stablecoin's price would depend on the smart contract algorithms, which can adjust the supply by tracking the demand for the stablecoin.
Bottom line
The TRON network can support multiple blockchain systems and supports smart contracts. Also, it supports decentralized applications, which are expected to become mainstream in future.
The TRON crypto is listed on almost all the big cryptocurrency exchanges like Binance, Bitfinex, Poloniex, and KuCoin. Its market cap was US$ 8.3 billion at 10 AM EST.
The circulating and total supply of the TRON crypto is 101.6 billion, and its all-time high was US$ 0.3004 per token on January 5, 2018.
Although the price of TRON crypto is rising, it is diffcult to predict what's next for the token as the crypto market is extremely volatile.
Also Read: Bitcoin SV (BSV) crypto records surge in price and volume. What's next?
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