Tron (TRX) investors maintain optimism even as the market dips, thanks to certain on-chain developments bolstering investor sentiment. According to CoinGecko, the token has surged over 24% since last week, indicating that investors are holding and accumulating TRX to capture more gains.
Tron’s developments might help TRX resist the current market downturn. However, it’s uncertain whether the token will continue defying the broader market trend or follow the dip.
Tron On-chain Developments Drive TRX Sky High
With Tron’s focus on stablecoin development made apparent by Tron founder Justin Sun last month, yesterday marked a significant win for the platform as Tether minted over $1 billion USDT without paying any gas fees. This drew criticism as some questioned the “no gas fee” transaction, pointing out they are charged a dollar for a simple swap approval.
Our team is developing a new solution that enables gas-free stablecoin transfers. In other words, transfers can be made without paying any gas tokens, with the fees being entirely covered by the stablecoins themselves.
— H.E. Justin Sun 孙宇晨(hiring) (@justinsuntron)
Despite this, Tron handled a third of Visa’s annual settlement volume while gaining over half a billion dollars in fees in just three months. This, according to Tron, demonstrates that “blockchain is more than just a buzzword.”
TODAY: $1B USDT minted on TRON
They paid $0.00 in fees.
Wow
— Arkham (@ArkhamIntel)
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