Analytics platform CryptoRank reviewed what happened on TRON (TRX), mainstream smart contract platform, in first six months of 2024
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At the time of writing, the total market cap of TRON stablecoins has almost reached $62 billion, with over 48 million holders. USDT is not the only stablecoin, although it accounts for approximately 98.2% of the total stablecoin supply on the TRON chain.The most recent burning event took place on Aug. 22, 2023, during which 1.2 billion USDT were burned.
The roadmap includes several stages. In Stage α, with Bitcoin already accessible within the TRON network, TRON DAO plans to bridge more Bitcoin-based assets to TRON. Stage β will involve collaborations with multiple Bitcoin layer 2 protocols to support restaking initiatives and grow the Bitcoin layer-2 ecosystem. Stage γ will introduce a protocol integrating TRON, BitTorrent Chain and the Bitcoin chain, aiming to combine the benefits of PoS and PoW mechanisms.
In the first stage, the solution will be integrated into the TRON blockchain and then extended to Ethereum-compatible networks, such as the BTTC Chain. The service is scheduled to launch in the fourth quarter of 2024.TRON has significantly evolved since its inception, shifting from its initial goal of directly rivaling Ethereum to focusing primarily on stablecoin transfers.
This has positioned TRON as a critical player in global stablecoin transfers, with over half of the total USDT supply circulating on its network.Bitcoin to $1 Million Next Year Far More Likely Now: Samson Mow
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