Blockchain
Brief Analysis of Messari’s Q1 2023 State of TRON and USDD Reports
Geneva, Switzerland–(Newsfile Corp. – May 12, 2023) – Messari, a leader in crypto market research and intelligence, recently released reports on both the USDD stablecoin as well as the TRON blockchain ecosystem. “The TRON DAO team appreciates Messari’s work overall, and like normal, its objective research in these latest TRON-related reports offers data-driven, insightful remarks,” a TRON spokesperson commented.
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USDD is an overcollateralized stablecoin managed by the TRON DAO Reserve (TDR). The number of USDD holders consistently remained above 130,000 in Q1 2023. The quarter also saw USDD expand its reach through various partnerships, and integrations with platforms like SwapFish, LayerZero Labs’ Aptos Bridge, and SushiSwap on the BitTorrent Chain (BTTC).
The TRON ecosystem overall held steady in Q1 2023.
There was a growth of 193,000 new accounts per day, surpassing the 12-month average of 172,000. Daily transactions grew by 7.7%, and TRON’s deflation rate was around 1% in Q1. Additionally, TRON’s position in the stablecoin landscape remains substantial, second only to Ethereum. The network’s integration with platforms like Blockbank, Fireblocks, and Uphold has improved access to the ecosystem, while initiatives like the TRON Climate Initiative and TRON Academy highlight its commitment to sustainability and next gen education.
Other highlights of note from the TRON report were:
- JustLend and JustStables benefited from the market rebound throughout Q1 as both were up QoQ (26% and 21%, respectively)
- TUSD value on the network grew by 420% QoQ to ~$1.3 billion
- Average amount of stake for Energy increased by 37.8% QoQ
- Technical developments advanced steadily
- TRON initiated developments to expand DeFi, including liquid staking and a decentralized resource marketplace.
- While USDT maintained 95% of the stablecoin value on TRON, there was a notable uptick in TUSD.
- TRON positioned itself in the AI space by partnering with Oraichain and launching a $100 million AI development fund.
TRON looks to remain competitive and continue its growth strategies to expand DeFi, stablecoin adoption, AI, and other use cases through 2023.
Contact Details
Hayward Wong
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To view the source version of this press release, please visit https://www.newsfilecorp.com/release/165862
WadzPay, a leading fintech company specialising in blockchain based technology for virtual asset payment solutions, is proud to announce its plan to enter the Stablecoin business, marking a significant expansion of its offerings. With a steadfast commitment to innovation and addressing evolving market demands, the company has strategically positioned itself to capitalise on the growing opportunities within the virtual asset financial services space.
ZettaBlock, a leading provider of blockchain solutions, has recently announced a significant enhancement to its offerings with the addition of blockchain data services. This development marks a strategic move aimed at bolstering ZettaBlock’s capabilities and further solidifying its position in the blockchain industry.
By integrating blockchain data services into its portfolio, ZettaBlock seeks to address the growing demand for comprehensive and reliable data solutions within the blockchain ecosystem. The new offering will enable clients to access a wealth of blockchain data, empowering them to make informed decisions and derive valuable insights from the vast amount of information available on various blockchain networks.
ZettaBlock’s decision to expand its services comes at a time when the importance of blockchain data analytics is increasingly recognized across industries. With blockchain technology continuing to gain traction and adoption worldwide, the ability to effectively harness and analyze blockchain data has become crucial for businesses and organizations seeking to unlock new opportunities and drive innovation.
Through its blockchain data services, ZettaBlock aims to cater to the diverse needs of its clients, providing them with access to real-time and historical data from a wide range of blockchain networks. This includes transaction data, smart contract metrics, network activity, and more, allowing users to gain deeper insights into blockchain transactions and activities.
The addition of blockchain data services represents a significant milestone for ZettaBlock, underscoring the company’s commitment to delivering cutting-edge solutions that meet the evolving needs of the blockchain industry. As businesses increasingly recognize the value of blockchain data in driving decision-making and enhancing operations, ZettaBlock’s comprehensive data services are poised to play a key role in shaping the future of blockchain analytics.
Source: cryptonewsz.com
The post ZettaBlock announces the addition of blockchain data appeared first on HIPTHER Alerts.
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