Highlights

  • TRX is now the 24th biggest crypto by marketcap.
  • New decentralised stablecoin to be called USDD

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Crypto spotlight: Tron (TRX) surges 10 percent; plans to launch stablecoin

Tron cryptocurrency outperformed boosted by a plan for a decentralized algorithmic stablecoin.

Cryptocurrency Tron (TRX) surged 10% on Friday, outperforming the crypto markets in general as the project plans for a decentralised stable coin. Tron is now the 24th largest crypto token among 13,700 currently being traded, as per the data from Coin Gecko.

Bitcoin, ether, dogecoin were, however, trading lower. The global crypto market’s value fell over 2 percent in the past 24 hours on Friday to $1.98 trillion, as per CoinGecko.

Tron is going to pool its resources to create USDD, a fully decentralized algorithmic stablecoin, founder Justin Sun said on his blog Thursday. This is scheduled to be issued and enter circulation on Tron May 5.

Tron’s accounts surpassed 88 million on Thursday. The USDD (Decentralized USD) would be available on Ethereum and BNB Chain through the BTTC cross-chain protocol.

Tron is a blockchain-based operating system. The TRON network claims to handle 2,000 transactions per second (TPS) compared to Bitcoin’s about six TPS and Ethereum’s 25 TPS.

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