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Thursday, March 28, 2024

Tron sees expansion, but this impending danger can’t be ignored

  • The total stablecoin market cap of Tron grew by 5% over the last week.
  • The TVL on the network dropped 3% since the SEC launched a probe against the TRON foundation.

The TRON [TRX] ecosystem shared a report on the network’s notable developments that took place over the week that went by.

One of the major takeaways was the network’s increasing dominance in the stablecoin sector. Tether [USDT], the largest stablecoin by market cap, saw its circulating supply on Tron reach a record high. At press time, it was over 44 billion, as per Tronscan.

Check out #TRON Highlights from this week (Mar 18, 2023 – Mar 24, 2023).

We'll update you on the main news about #TRON and #TRON #Ecosystem. So stay tuned, #TRONICS! pic.twitter.com/YXYBDKDJLj

— TRON DAO (@trondao) March 25, 2023

Additional data from DeFiLlama revealed that the total stablecoin market cap on the network grew by 5% over the last week to $43.57 billion.

This was in stark contrast to the chain with the highest stablecoin market cap, Ethereum [ETH], which registered a weekly drop of 2.3%.

Source: DeFiLlama

How much are 1,10,100 TRXs worth today?

Network expands thanks to stablecoins

Tron became a go-to platform for stablecoins ever since the USD Coin [USDC] depegging episode which rattled the broader crypto market. In fact, a day after the fateful event, the stablecoin inflows into the network reached a three-month high of $1.17 billion.

The remarkable growth prompted Tron founder, Justin Sun, to announce an ambitious...



source: https://ambcrypto.com/tron-sees-expansion-but-this-impending-danger-cant-be-ignored/