On the occasion of the stable coin launch, the Tron project team made huge works to show significant growth for the Tron blockchain ecosystem.
Tron is a decentralized blockchain network. Right now TRX is standing at 19th rank, by 24 hours trade volume. TRX is a native token of the Tron blockchain. Last week, Tron founder Justin Sun announced the launch of the Tron blockchain-backed stable coin, USDD
On 5 May, Tron’s founder announced through Twitter that USDD stable coin has been launched on the main net successfully.
Finally, the time is coming! #USDD on #TRON has been officially launched and entered into circulation! #Blockchain is now ushering into the Stablecoin 3.0 era led by #TRON-based #USDD!
Decentralize everything centralized. https://t.co/Oo3H1bqHEN
— H.E. Justin Sun 🅣
(@justinsuntron) May 5, 2022
Justin also warned people to remain away from fake USDD smart contract-based addresses on decentralized exchanges. For the same, Justin suggested to double-check the smart contract address on the official website.
Please always take your time to double-check the official contract addresses on #TRON, #BNBChain, and #Ethereum for #USDD
https://t.co/TWNmfJBFI5
— H.E. Justin Sun 🅣
On this occasion of the USDD launch, the Tron community announced the burn of $130 million worth of TRX coins.
On the occasion of the launch of #USDD, 1,550,001,344 ($130M) #TRX will be officially burned
pic.twitter.com/HxATLQXI7P
— TRON Community 🅣 (@TronixTrx) May 5, 2022
According to experts, the USDD stablecoin may play a vital role in terms of adoption among the wise crypto investors because this coin is a better option for those, who want to generate risky free 30% interest per year on holding.
Price action
Due to this huge positive news for the Tron blockchain, the price of the TRX coin surged to around 18%+ within 24 hours. At present time, due to usual market correction, the TRX coin price is $0.079, which is 4.9% higher than the last 24 hours’ trade price.
Read also: Retail interest in Cardano surges by approximately 2 fold
