![Tron [TRX] finds impetus thanks to stablecoin transfers in this way](https://i.headtopics.com/images/2023/3/14/cryptoamb/tron-trx-finds-impetus-thanks-to-stablecoin-transf-tron-trx-finds-impetus-thanks-to-stablecoin-transf-1635710636783968256.webp)
TRON had 50% more circulating stablecoins than Ethereum TRX’s Open Interest formed a bearish divergence which could lead to a pullback Amidst all the chaos in the crypto-markets following the collapse of crypto-friendly banks, Tron [TRX]‘s ecosystem shared its latest weekly report. In doing so, it provided updates on some of its key performance indicators […]
The report highlighted that the total number of transactions recorded over the past week hit 46.6 million. This, while the number of new accounts added to the network went past 1 million.
On the other hand, the total value locked on the chain’s smart contracts regained its $11 billion-mark afterUSDT transfers helped Tron? The uptick in trading activity could have been powered by stablecoin transfers as Tron registered a significant jump in its stablecoin circulating supply. In fact, a tweet shared by an analyst revealed that due to the market shake-up, TRON had 50% more stablecoins than Ethereum [ETH]. While ETH’s marketcap declined, TRON recorded the highest weekly growth, more than 6% among top blockchains.and enjoyed a dominance of 93.69% in the overall Tron’s stablecoin market cap.
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![Assessing the state of TRON [TRX] amidst ongoing Stablecoin turmoil](https://i.headtopics.com/images/2023/3/13/cryptoamb/assessing-the-state-of-tron-trx-amidst-ongoing-sta-assessing-the-state-of-tron-trx-amidst-ongoing-sta-1635257654321766400.webp?w=640)
Assessing the state of TRON [TRX] amidst ongoing Stablecoin turmoilUSDC supply on Tron dropped sharply while USDT’s dominance rose. TRX jumped nearly 15% at press time. 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 […]
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