TRX’s growth in value after stablecoin announcement

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Tron TRX/USD is a blockchain-based digital platform developed with the main goal of reducing the need for centralized platforms when it comes to making transactions online.

Tron as a blockchain enables smart contract functionality, and the network was originally released in September of 2017.

The algorithmic stablecoin as a catalyst for growth

On March 31, 2022, we covered how Binance.US made an announcement that it was listing Tron (TRX).

On April 21, 2022, Justin Sun, the creator of the Tron blockchain network, announced that Tron DAO, which is the restructured Tron Foundation, will begin issuing the USDD stablecoin at the start of May 5, 2022.

Then through another separate announcement, Tron DAO said that it would raise $10 billion in reserves from prominent blockchain industry players throughout the span of the next six to twelve months.

The main goal here is to provide liquidity in case of emergency to stablecoins that are issued on Tron, which includes both USDD and Tether USDT/USD.

Should you buy TRON (TRX)?

On April 22, 2022, TRON (TRX) had a value of $0.068098.

In order for us to get a better perspective as to what kind of value point this is for the TRX cryptocurrency, we will be going over its ATH point of value alongside its performance throughout the previous month.

When we look at the token’s all-time high, TRON (TRX) was worth $0.231673 on January 5, 2018.

This means that, at its ATH, the token was $0.163575 higher in value or by 240%.

When we go over the performance of the token throughout the previous month, TRON (TRX) had its lowest point of value on March 5, when it decreased to a value of $0.05794.

Its highest point of value was on March 31, when the token increased in value by $0.07872. Here, we can see that the token increased in value by $0.02078 or by 35%.

With this in mind, we can expect TRON (TRX) to reach a value of $0.1 by the end of April, making it a solid token to buy.

However, after USDD gets released on May 5, the value of TRX could go up to $0.2.

Il post TRX’s growth in value after stablecoin announcement appeared first on Invezz.

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