According to information from CoinMarketCap, TRON (TRX) is currently worth more than Shiba Inu (SHIB). TRX is currently ranked 14th and is worth about $4.7 billion on the market. This is just ahead of SHIB, which is worth $6.38 billion.
After the launch of its algorithmic stable coin, USDD, TRON also seems to be picking up speed. The algorithm behind the stablecoin is similar to the one behind Terra’s USD. Just a half month after its launch, USDD is already one of the top 100 cryptocurrencies by market capitalization.
At the moment, the stablecoins USDT, USDJ, TUSD, USDC, and USDD make up the TRON ecosystem, giving it a very solid base.
TRON DAO also said in a Tweet on May 23 that “according to DefiLlama, the Total Value Locked on TRON currently ranks third among the global public chains, just behind Ethereum and BNBChain.” In the last 24 hours, TRON’s total value locked has gone up by 22.37 percent.
Also, the fact that TRON regularly burns TRX tokens helps it keep going. A Twitter user says that more than 5.8 billion TRX tokens, which are worth about $462 million, have already been burned.
Ankr, a decentralized Web3 infrastructure, also announced that it will work with TRON developers to make dApps that are scalable and safe.
TRX is now worth $0.07839, which is an increase of 5.3% in the last 24 hours and an increase of 11.45% in the last 7 days.
TRX also had a 24-hour trading volume of about $1,304,299,970, which is a 28.30 percent increase from yesterday’s numbers.