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After months of crisis and instability, the cryptocurrency sector is starting to recover slightly. Thus, the total market capitalization of the market has grown to $ 1 trillion, which at the same time has had positive consequences for all cryptocurrencies. In fact, most of them have benefited from the last few days in the green, including TRON protocol (TRX).
The latter’s trading volume since its inception has also exceeded $ 5 trillion. In addition, 105 million or more accounts have been created 3.6 billion transactions on its blockchain According to TRONSCAN data published today, August 1st.
What is TRON?
Created in 2017 Giustino Sole TRON is a cryptocurrency that serves for the Tronix system and uses blockchain technology. This is an innovative and special project because this blockchain can be used to create decentralized applications or share content.
As with the TRX token, its use allows access to some features included in the operating software. Therefore, it is a token that is used for its intended purpose. mainly to the Tron network. However, like most, it remains a cryptocurrency because it is priced and can be traded on various exchange platforms where it is available.
Although TRX tokens were originally based on ERC-20 and supported by the Ethereum blockchain, as of 2018 they are independent tokens using their own blockchain. In the same year Tron acquired BitTorrent, Software that is one of the greatest online file sharing tools.
This acquisition was done in part to create efficient ways to easily and freely share content on the internet, as this is one of the main purposes of this cryptocurrency. In fact, TRON comes from desire to help enhance and reward other web content creators for their efforts.
Increasing value cryptocurrency
If TRON is gaining attention today, it is because its growth is the subject of much debate. Indeed, this project has registered over 105 million new accounts on its network and over 3.6 billion transactions on the blockchain. Additionally, the cryptocurrency market overhaul has increased its net worth (TVL) to over $ 11 billion.
Thanks to all these indicators, TRON has effectively become the second largest public network in terms of market capitalization of stablecoins. According to a tweet from the official TRON account, this cryptocurrency is also a part TVL is one of the three largest public broadcasters.
#TRON mid-year review 2022🤩
💪With 100 million accounts and 3.4 billion transactions, #TRON is the second largest public network by market capitalization stablecoin and the third largest public network for #TVL. #TRON is also on the path of globalization and ecosystem innovation. # THRONStrong🚀🚀🚀 pic.twitter.com/K6nOGUX5oa
– TRON DAO (@trondao) July 11, 2022
The TRON ecosystem is growing
According to the analyzes conducted by several experts, such a lightning-fast increase in TRON is justified for several reasons. This is mainly due to the recently announced partnership agreement between TRON and WeFund.
WeFund is a multi-network crowdfunding community incubator that helps manage blockchain and real projects. This partnership primarily aims to help TRON reach more users. in the decentralized application market and promote payments with TRON, making them more accessible and necessary.
From the beginning of June it seemed that there was already an upward trend in the value of the TRON. BUT 47% monthly increase. has seen TVL TRON in DeFi (decentralized finance) since May.
Under conditions where the cryptocurrency market was in the midst of a crisis, with full bear market, This situation made TRON the only blockchain to report positive results in the United States.
To make a simple comparison, keep in mind that TVL Ethereum (ETH), the largest DeFi ecosystem, fell 35% over the same one-month period. Along with this project, popular cryptocurrencies such as Binance Coin (BNB), Polygon (MATIC) and Solana (SOL) also suffered significant losses. from 27% to 38%.
TRX price analysis
At the time of writing, TRON holds true $ 0.06945 a 0.03% increase per day and a 6.06% increase over the past seven days. While this remains a low percentage, the chart actually shows the TRON token spike in recent weeks and this is clearly happening despite the bear market.
TRX cryptocurrency has a market capitalization approximately $ 6.42 billion. It is the 16th largest cryptocurrency available on the market today, according to CoinMarketCap.
TRON recently launched its USDD stablecoin. This is clearly similar to what existed with the Earth and ecosystem I want to fill the void created by him. As a result, the TRON ecosystem can also grow and continue to develop positively.