The cryptocurrency market and the communities involved in it have always been result-oriented. This has prompted several crypto organizations to release features that will stick for a long time and are numbers-driven.
Justin Sun led the Tron Foundation as one of the few organizations in the cryptoverse that has ties to almost all major digital asset sectors. In order to give investors and holders a better idea of what they’re diving into, Binance has released a report that talks about the Tron community’s nitti-gritties.
Binance’s latest research talked about how Tron was the second-largest blockchain for USDT, the largest stablecoin in the world. Tron controls more than 30 percent of the total USDT in circulation, which contributes to the $2.9 billion of stablecoins circulating on the TRX blockchain. At the moment, Tron is hosting two DEXs on its platform, which is doing fairly well. PoloniDEX and TronTrade have been two of the best performers this year, adding an average of 750 unique users.
The effect of Tron on the stablecoin industry has been undeniable, with the network beating the likes of Omni and USDC in a short time. At present, Tron has 377,659 addresses on its native network with a total supply of $2.88 billion. Binance ‘s research also dealt with the two different standards of tokens in the Tron ecosystem. The TRC-10 standard acts as a native utility token, while the TRC-20 is the most popular constructed token standard.
Justin Sun has assured proper popularity coverage through multiple partnerships with other crypto organizations. One of the most significant developments on the part of Tron was the creation of the Super Representatives Club. The SR Club is a select group of cryptocurrency companies in the Tron ecosystem who serve as guardian angels of the Tron blockchain. One of the most popular SRs is Tron Europe, a company that has dabbled in various aspects of the blockchain and Tron world.
The Binance research added:
“TRON has a popular ecosystem of decentralized applications. According to DApp.Review, TRON ranked the second blockchain per number of daily users, with a number of users superior to 25,000 users daily in June 2020. Instead, TRON’s community has focused on decentralized and distributed casino applications. Out of the top 10 dApps on TRON, 7 were casinos in June according to the average number of daily users.”
According to the details released by the Changpeng Zhao led Binance, Tron also offers multiple opportunities for investors to trade their holdings. While some are admittedly risky, groups like Cityuptake provide opportunities for users to leverage the SR system and track their capital. Factors such as a vibrant community and an increasing trading volume have made Tron one of the few blockchain networks to watch out for in the near future.