CoinMarketCap's top 100 only 16 days after its May 5 launch. As of Wednesday, June 1, USDD has reached a new milestone with over $667 million in circulating supply burning over 8 billion TRX along the way.
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TRON now ranks third among all public chains by TVL at $6.17 billion, following closely behind Ethereum and BNB Chain, according to data provided by DefiLlama, one of the largest TVL aggregators for DeFi.
TRX has been gaining momentous backing from major asset management companies lately, including Fireblocks, a leading global digital asset and crypto infrastructure platform, which announced its support for TRX and all TRC-20 tokens of the TRON blockchain on its institutionally-focused digital asset platform last week. This announcement follows Crypto Finance, a subsidiary of Deutsche Börse, who announced its support for TRX storage, custody, and trading, making TRX available to the entire Deutsche Börse network.
In terms of stablecoin development, the TRON DAO Reserve has onboarded multiple premier blockchain institutions such as Alameda Research, Amber Group, Poloniex, Ankr, Mirana, Multichain, FalconX, and most recently TPS Capital as Members and Whitelisted Institutions to mint USDD, with more names to be announced in the coming weeks.
USDD is already trading on popular lending platforms, decentralized exchanges, and centralized...
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