Tron Burned 125 Million Coins as Net Production Hits Negative $10 Million

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-Tron actively burns coins as the network’s supporters expect a greater burn rate with the release of USDD
-The project originated back in 2018, when the cryptocurrency market was something highly different from what we see today.
-Tron still follows the newly emerged trends and reports daily on the amounts of coins removed from circulation via the burning mechanism.
-As the official Tron community account reports, the network has burned over 125 million coins as issuing TRX stays at negative 120 million, valued at approximately $10 million.
-As USDD Stablecoin by Tron Network was introduced, the blockchain now expects a greater burning rate thanks to the arbitrary swap mechanism in the core of the stablecoin, which mostly mimics Terra’s UST maintaining scheme.
-With the mint of each USDD, $1 worth of TRX is getting burned, which expands the supply of USDD. With an expanding and decreasing supply, Tron is able to control the price of the stablecoin at $1.
-Terra’s stablecoin, UST, functioned on the market with no issues at all until Bitcoin’s drop below $35,000 caused a panic on the cryptocurrency market and increasing outflows from UST on Anchor.
-With a massive drop in exit liquidity, UST lost its peg for a moment, causing the price of the stablecoin to drop below $1, which is now questioning the reliability of an entire mechanism that relies on the core of USDD stablecoin.
-Alternatively, the scheme should positively affect the performance of TRX on the cryptocurrency market. The coin mostly followed the general trends of the industry and has lost around 50% of its value since November 2021.
-Following the release of USDD, TRX rallied by more than 30% and now trades at $0.08.

14663 Tron Burned 125 Million Coins as Net Production Hits Negative $10 Million
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