USDD shows robust growth despite challenges and holds over 130,000 users.

USDD shows robust growth despite challenges and holds over 130,000 users.
USDD on Tron: A look under the hood
USDD, a fast -moving stable coin that originally comes from Tron, has developed well despite a difficult start. In the last quarter, USDD was able to hold over 130,000 users, which is a decline compared to previous quarters. But what is behind the USDD stable and how has he developed since the turbulent events in 2022?
In the second quarter of 2023, USDD has shown improved stability and lower volatility, which has contributed to maintaining its bond with the US dollar. This was confirmed by the analysis company Messari in a recently published report. The report also revealed that USDD had over 130,000 token owners in the course of the quarter.
The analysis of Messari also shows that defi protocols, especially credit logs, make up a significant part of the USDD use in the tron ecosystem. SunCurve and Sunwap, two of the top dexes on Tron, control about 10 % of the USDD in circulation. The liquidity stored in credit protocols was 220 million in the second quarter, while 5 million USDD were issued as loans.
USDD has shown a healthy on-chain performance in the past six months. The volume in the Ethereum network reached its peak in February with up to 159.37 million USDD, while the volume on the BNB chain reached its maximum at almost 50 million. Network growth has ensured healthy activity in the same period.
This fast growth of USDD is closely associated with the robust growth of the tron network. It is expected that USDD will continue to grow in this way because the TRON network continues its expansion. However, the question remains whether Tron will be able to prevent problems such as the VAT crash in 2022.
Overall, the USDD stable shows a positive development and benefits from the stability of the tron network. It remains to be seen how the market will develop and whether Tron can keep its promises.
sources:
- Messari
- Santiment