In the last 30 days, the value of TRX has significantly increased by 30% as its investment potential grew amid major crashes suffered by some cryptocurrencies.
Tron’s native token, TRX has now surpassed Shiba Inu (SHIB) to become the 14th-largest cryptocurrency by market capitalization.
The Tron Ecosystem has thrived, becoming the biggest gainer in the aftermath of the recent crash. Their team’s proactive measures have proven to be effective. Over the last month, the TRON chain’s total locked value (TVL) has increased significantly. Its TVL has increased by more than 33% to $5.5 billion.
TRX Prices Increased By 30% In The Last 30 Days
Tron’s native token TRX and stablecoin USDD have emerged as the top investment options. When the major cryptocurrencies were in free fall over the last 30 days, TRX token prices increased by more than 30%. Meanwhile, Bitcoin (BTC) is down 22% at the same time. Tron reported a burn of $39.09 million worth of 499.9 million TRX tokens to support this surge.
Meanwhile, in the last 24 hours, a similar transaction of sending $8.5 million worth of 106.5 million TRX tokens to an unknown wallet was recorded. It is unclear whether this was a burn transaction. According to the Tron Community, on May 24, 2022, 520.4 million tokens were burned. TRX is currently trading at an average price of $0.08 at the time of publication. Its 24-hour trading volume has increased by a quarter to $1.6 billion.
TRX Overtakes Shiba Inu
Tron’s stablecoin USDD is attempting to seize the opportunity created by TerraUSD’s collapse. The total supply of USDD surpassed 543 million within the first month of its launch. Its daily trading volume is $105 million.
Tron’s recent success has enabled the TRX token to surpass Shiba Inu, the second-largest meme cryptocurrency. TRX has surpassed Bitcoin to become the 14th largest cryptocurrency, with a market capitalization of $7.69 billion. Since the beginning of the year, SHIB has consistently lost value. Shiba Inu has dropped to 16th place, with a market cap of $6.3 billion.
TRON DAO Reserve previously announced that they had secured $82.3 million in Bitcoin, $181.6 million in TRX tokens, and $295 million in USDT, among other things.