Tron (TRX) spiked nearly 11% to $0.73 over 24 hours leading up to early Monday morning. The Justin Sun-founded coin is riding high on a recent announcement of a new stablecoin called USDD or Decentralized USD on its network.
Tron’s spike at press time exceeded the 24-hour gains seen in Bitcoin, Ethereum, and Dogecoin (CRYPTO: DOGE).
|Time-frame||% Change (+/-)|
|24-hour against Bitcoin (CRYPTO: BTC)||8.2%|
|24-hour against Ethereum (CRYPTO: ETH)||7.8%|
See Also: Best Crypto Debit Cards
The TRX Factors
- Tron was seen trending among retail investors on Stocktwits. The coin was the number-two gainer over 24 hours among top 100 coins, according to price-tracking websites CoinMarketCap and CoinGecko.
- TRX’s trading volume shot up 56.8% over 24 hours to $1.88 billion, according to data from CoinMarketCap.
- Coinglass data showed that $2.49 million worth of TRX futures were liquidated in the preceding 24 hours as the coin spiked.
A Step Closer?
Justin Sun retweeted a post from TRON DAO Reserve Sunday that said it is now taking a “step further” to build the industry’s first decentralized reserve.
#TRON is now taking a step further to #BUIDL @trondaoreserve, the blockchain industry’s first decentralized reserve!— TRON DAO Reserve (@trondaoreserve) May 1, 2022
We aim to safeguard the overall blockchain industry and crypto market, prevent panic trading caused by financial crises, and mitigate severe downturns. pic.twitter.com/AVu5C9ClqW
Total Tron Accounts Surge
Early Monday, Tron’s official Twitter said that the network now “boasts” of over 90 million total accounts and over 3.1 billion transactions.
The total accounts on the #TRON network exceeded 90 million!— TRON DAO (@trondao) May 2, 2022
Boasting over 90 million accounts and 3.1 billion transactions, #TRON is the world's fastest-growing public chain with continuous daily new accounts every day.
Thanks for all the supports from #TRONICS pic.twitter.com/Ys3dijr4hX