🔥 Land A High Paying Web3 Job In 90 Days LEARN MORE

Brief Analysis of Messari’s Q1 2023 State of TRON and USDD Reports

303244
download 1683888920Z33gkk8x58download 1683888920Z33gkk8x58

Contents

Share link:

Geneva, Switzerland, May 12th, 2023, Chainwire

Messari, a leader in crypto market research and intelligence, recently released reports on both the USDD stablecoin as well as the TRON blockchain ecosystem. “The TRON DAO team appreciates Messari’s work overall, and like normal, its objective research in these latest TRON-related reports offers data-driven, insightful remarks,” a TRON spokesperson commented. 

State of USDD Q1 2023

USDD is an overcollateralized stablecoin managed by the TRON DAO Reserve (TDR). The number of USDD holders consistently remained above 130,000 in Q1 2023. The quarter also saw USDD expand its reach through various partnerships, and integrations with platforms like SwapFish, LayerZero Labs’ Aptos Bridge, and SushiSwap on the BitTorrent Chain (BTTC).

State of TRON Q1 2023

The TRON ecosystem overall held steady in Q1 2023.  

There was a growth of 193,000 new accounts per day, surpassing the 12-month average of 172,000. Daily transactions grew by 7.7%, and TRON’s deflation rate was around 1% in Q1. Additionally, TRON’s position in the stablecoin landscape remains substantial, second only to Ethereum. The network’s integration with platforms like Blockbank, Fireblocks, and Uphold has improved access to the ecosystem, while initiatives like the TRON Climate Initiative and TRON Academy highlight its commitment to sustainability and next gen education.

See also  Early Investor Who Made Millions on Ripple Predicts the Next Big Crypto Surge

Other highlights of note from the TRON report were: 

  • JustLend and JustStables benefited from the market rebound throughout Q1 as both were up QoQ (26% and 21%, respectively)
  • TUSD value on the network grew by 420% QoQ to ~$1.3 billion
  • Average amount of stake for Energy increased by 37.8% QoQ
  • Technical developments advanced steadily
  • TRON initiated developments to expand DeFi, including liquid staking and a decentralized resource marketplace.
  • While USDT maintained 95% of the stablecoin value on TRON, there was a notable uptick in TUSD.
  • TRON positioned itself in the AI space by partnering with Oraichain and launching a $100 million AI development fund.

TRON looks to remain competitive and continue its growth strategies to expand DeFi, stablecoin adoption, AI, and other use cases through 2023.

Contact

Hayward Wong
[email protected]

Share link:

Disclaimer. The information provided is not trading advice. Cryptopolitan.com holds no liability for any investments made based on the information provided on this page. We strongly recommend independent research and/or consultation with a qualified professional before making any investment decisions.

Most read

Loading Most Read articles...

Stay on top of crypto news, get daily updates in your inbox

Editor's choice

Loading Editor's Choice articles...
Cryptopolitan
Subscribe to CryptoPolitan