TRON (TRX) recorded 45% growth outperforming many other cryptocurrencies amid the USDD stablecoin release. How did that happen and what's next in the market?

What's the current range of TRON?

TRON (TRX) used to rally near its support zone until early May. It then rose rapidly with its value reaching $0.083 on 5th May and later declined due to profit-earning. 

Trading View chart, published yesterday.

Currently (Friday 6/5), TRON stands at $0.08 remaining stable despite the market's downtrend.

Does the launch of USDD play a role?

Yes, it did! TRON's stablecoin, USDD, was launched yesterday and this led to a surge in demand for TRX. 

USDD is a stablecoin on the TRON decentralized blockchain, pegged to the USD. Its main goal, as stated in the whitepaper is to support customers' electronic payments with digital currencies.

Justin Sun, the founder of the TRON blockchain, announced that the coin's APY is 30%, which is much higher than all other mainstream stablecoins.

Among its early backers are the crypto trading firm Alameda Research and digital assets company Amber Group, moves officially announced on the TRON DAO Reserve account.                     

The stablecoin race will continue as stablecoins are gaining more ground in the market. NEAR Protocol is planning to launch a new stablecoin to rival Terra, while IOST is bound to do the same.

Conclusion

TRON has increased in value due to a combination of factors. First of all, the USDD release rumor increased demand for the native blockchain currency, TRX. Additionally, its developers have outpaced many other rivals in attracting quickly investors for their new project and its yield looks very promising, as it's much higher than other mainstream currencies.

With the current bear market continuing, investing in stablecoins is a good idea to earn passive income and mitigate losses.

Important links:

Registration links:

• Sign up in Binance and win an NFT!
• Get up to $40 as a registration bonus in CakeDefi!
• Earn diamonds with me in CoinMarketCap!
• Earn free ZEN in Horizen!
• Earn free ASK in Permission!
• Earn free 1FLR, MATIC, and ZEC in PipeFlare!
• Sign up in XT.COM and trade selected currencies!

Social Media:

• Discord:  CryptoChad#2416
• Medium: @cryptochad2
• Reddit: u/CryptoChad2
• Twitter: @cryptochad_v2

If you found this article helpful consider offering a small tip. It's provided to you for free and it's a great incentive for me to post more frequently. :) You can additionally comment your opinion below and suggest topics I need to cover (from recent news to tokens).