#MarketSentimentToday

The supply of stablecoins reaches more over $50 billion in Q1 of 2024, while #TRON experiences a 10% rise

The first quarter of 2024 saw a quantity of stablecoins on TRON exceeding $50 billion.
Gains were seen in TRON's market capitalization, revenue, average DEX volume, and total value locked.

Since the start of 2024, the $TRX token has had a 10% rise.

According to a research by Messari, the blockchain-based digital platform TRON (TRX) saw growth in the first quarter of 2024. Several measures, including market capitalization, revenue, and total value locked (TVL), showed rises for TRON.

Stablecoins bring in $50 million for TRON in the first quarter of 2024.

Messari, a crypto intelligence tracker, found that in the first quarter of 2024, TRON's blockchain had significant growth across many important indicators. Currency Tether (USDT) on Tron surpassed $50 billion in Q1, according to the research. Since stablecoin traffic usually signifies fiat onramps, this is significant for market players. Increases in both the demand for assets and the inflow of money (from fiat to crypto via stablecoin) are signs of a growing market for stablecoin.

Effect on the pricing of TRON @Justin Sun孙宇晨

The circulating supply of TRON is one of the measures that might influence the price of the token. Token burn and TRX payouts affect the supply that is circulating. All user transaction fees are burned by the protocol, which reduces the quantity of TRON in circulation.

The circulating supply of TRON dropped from 88.2 billion to 87.7 billion in Q1 2024, according to data from Messari's report. The yearly inflation rate for TRON is -2.6%. The token's price has risen because of this, among other things.

Since the start of 2024, the price of TRON has increased by 10%. The current price of the token on Binance is $0.1184. #BTC #BullorBear