Assessing the state of TRON [TRX] amidst ongoing Stablecoin turmoil

The current stablecoin turmoil has spread far and wide and no crypto project has managed to stay aloof from its impact. Tron TRX, the layer-1 blockchain, saw its USD Coin USDC supply drop from $1.03 billion at the start of March to just over $530 million as of 12 March, almost getting halved.

Timeline of Tron

Tron reached an important milestone, completing 5 billion transactions. This milestone highlights the growing popularity and wide adoption of this blockchain by developers, companies, and cryptocurrency enthusiasts around the world.

TRON's latest announcement is evidence of its efforts to increase TRX's global adoption and usage. TRON has announced a partnership with the Commonwealth of Dominica to usher in a new era of Web 3.0.

TRON [TRX] burned over 18.74 million tokens over 24 hours until 3 March, as per data from Tronscan. With the number of new tokens generated being flat, the net issuance rate, or the difference in the number of tokens generated and the number of tokens burnt, fell further.

The price action of TRON [TRX] had strong bullishness behind it. The rally that began in January has not yet stopped on the higher timeframes, as TRX continued to make higher highs and higher lows.

TRON [TRX] published its weekly highlights on 25 February, in which it mentioned all the notable developments in its ecosystem over the past seven days. The most significant update was related to its earlier-announced AI development fund.

TRON [TRX] has been stepping up its game in terms of burn activity, which proves its deflationary characteristic. The figure has increased considerably since 2022, and over 600 TRX tokens have been removed from the circulating supply in the last three months.

TRON [TRX] shared a report on the network's notable developments that took place in the last week. One of the highlights was the sharp increase in the number of burnt tokens, which surpassed 15 billion.

On 10 February, TRON [TRX] announced that the total amount of TRX burned had surpassed 15 billion. With this, the circulating supply of TRX had been reduced by 10.3 billion, which was worth $950, further establishing its deflationary nature.

Binance News: The largest cryptocurrency exchange in terms of trading volume, announced on Saturday that it had reset the withdrawal limits on the Tron network to their previous levels in response to community feedback. Earlier, Binance had stated that it would be hiking fees following a vote by the Tron DAO to alter the energy The post Binance News: Crypto Exchange Has Good News For TRON Users appeared first on CoinGape.

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