TRX has gained 24% in the past month: here’s why TRON (TRX) survived the crypto crash

TRON (TRX), has been one of the greatest survivors of the recent crypto crash. As a matter of fact, TRX has even overtaken Shiba Inu (SHIB) token which was once a very popular meme coin, especially within the social media circles.

Initially, there were fears when Terra (LUNA) started dropping due to the de-pegging of its stablecoin, the TerraUSD (UST) since TRON also has an algorithmic stableoin, the USDD. The USDD slightly de-pegged from its US Dollar parity but quickly assumed the parity after the TRON team took very proactive steps.

The TRON blockchain has also registered significant gains over the past month in terms of the total value locked (TVL). The TVL has surged by more than 33% and it currently stands at almost $6 billion.

TRX and USDD stands out as the top choice for investors

After the TerraUSD debacle, the USDD has stood out as one of the best algorithmic stablecoin. As a result, both TRX and USDD have become a top choices for investors.

Within the first month of its launch, the total supply of USDD stablecoin exceeded 543 million.

As a majority of cryptocurrencies including Bitcoin, Ethereum, and Terra saw a freefall, TRX managed to rise by over 24%. Bitcoin has dropped by about 22% over the same period.

Why is TRON performing so well?

As of yesterday, Tron had reported a burn of about 520 million TRX tokens worth more than $42 million.

Over the past 24 hours, about 106.5 million TRX tokens have been sent in an unknown transaction, which is being speculated to be a burn transaction though details are yet to emerge.

The burning of TRX is expected to maintain the current TRX bullish trend due to a reduced supply as the demand continues to rise.

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