Tron (TRX) has climbed to the forefront of the cryptocurrency market in terms of profitability in the previous 24 hours. The #1 slot was previously “taken” by the “stablecoin” UST, which, due to extremely high volatility and depegging, climbs between 10% and 50% of its value in various periods of time but then soon loses it.
According to CoinMarketCap, TRX is fiercely “fighting” for first place on the market with Terra’s UST, whose price is constantly shifting, gaining and losing up to 20% of its value in a matter of hours.
Tron, on the other hand, has had a more consistent performance, increasing in value by over 30% in the previous month despite the cryptocurrency market’s drop. The advent of algorithmic stablecoin USDD, which employs a backing system similar to TerraUSD, has boosted TRX’s performance.
Despite the difficulties in maintaining the UST peg, users continue to pour money into USDD, which now has a market valuation of $500 million, close to Terra’s $750 million. TRX is on a strong uptrend at the time of publication, with a significant jump in trading volume amid a major downturn in May. TRX’s value soared by more than 40% in a matter of days. TRX is now on the rise, having gained over 15% in the previous three days.
