TRON: Decoding the odds of TRX defeating the market trend

If the crypto market was looking a little red before, at press time it was closer to the blood-gushing elevator scene from The Shining. With Bitcoin trading at $31,720.36 and Ether changing hands at $2,368.71 it's natural that both Bitcoin and altcoin holders are panicking at the moment.

Timeline of Tron

504,600,250 TRX tokens were purchased at an average rate of $0.07727 to bolster the USDD stablecoin reserves.  Tokens Bought To Bolster Reserves The team at Tron DAO, which is the world's largest decentralized autonomous organization, announced the almost $39 million purchase of TRXs to bolster its USDD stablecoin reserves as directed by the founder Justin Sun to back the stablecoin with $10 billion worth of digital assets.

Tron's native cryptocurrency TRX delivered an impressive weekly rally despite the market wide sell-off that has taken place in the last 4 days. However, it looks like TRX might be about to give into the selling pressure given the strong pullback it registered in the last 24 hours.

The Tron DAO reserves bought $38 million in TRX to protect the USDD stablecoin after it recently went live and got listed on a number of decentralized finance protocols so let's read more today in our latest Tron news. The Tron DAO reserves bought about $38 million in TRX to back the algorithmic stablecoin as

On May 5, Tron's algorithmic stablecoin USDD went live and so far, the fiat-pegged token has been listed on a number of decentralized finance (defi) protocols. Two days later, the Tron DAO Reserve announced it purchased 504.6 million tron (TRX) to back the algorithmic stablecoin, as the project aims to leverage a decentralized forex reserve

A wise man once said “Algorithmic stablecoins are fast becoming the norm – protocol-issued dollars coming to every blockchain.” Like a self-fulfilling prophecy, two days ago, Tron launched its USDD algorithmic stablecoin.

TerraUSD's (UST) growth over the last couple of weeks has brought a shift of sorts in the stablecoin world, with people now realizing the importance of decentralized stablecoins. Tron brings USDD Tron recently announced the launch of its own decentralized stablecoin USDD to capitalize on the innovative opportunity, and the same went live a day

Disclaimer: The findings of the following analysis are the sole opinions of the writer and should not be considered investment advice. The Crypto Fear and Greed Index stands at 23, meaning extreme fear.

The TRON(TRX) price escaped a three-month-long consolidation phase with a bullish breakout from the resistance trendline of the inverted flag pattern. The breakout rally tagged an overhead resistance of $0.09 and reverted to a retest phase; however, the RSI indicator suggests weakness in the bullish momentum despite a strong follow-up candle.

Tron (TRX), the native token on the namesake blockchain vastly outperformed a crypto market crash in the past 24 hours, amid hype over a new stablecoin. The main reason behind the token's rally was the purchase of about 504.6 million TRX by Tron's new stablecoin reserve.

TRX, Tron's native coin, has been trending upwards since the beginning of the month. Tron has announced that its algorithmic stable currency USDD will be available soon and since then it has experienced an increase in interest. Tron was trading at $0.086 at the time of writing. After reaching the $0.09 resistance level, the coin …