Situation with TRON and USDD in Q4 2022
The State of TRON and the State of USDD for the fourth quarter of 2022 have been the subject of recent publications from Messari, a famous supplier of blockchain research and data analysis. The papers include a thorough analysis of the TRON network’s and the USDD stablecoin’s performance, respectively.
USDD situation as of Q4 2022
In the first report, titled “State of USDD Q4 2022,” the TRON DAO Reserve’s stablecoin USDD, which is tied to the US dollar, is highlighted for its success. According to the research, USDD continued to rise in the fourth quarter of 2022 despite the crypto winter, with its circulation volume rising from $6 billion to about $8 billion USD. Stability, minimal volatility, and ease of use were cited as important benefits of USDD that account for both consumers’ and institutions’ preference for it.
With only an 8% rise in Q4, TRON’s growth of USD wallet users stagnated. However, the research emphasizes how USDD is being more widely used in everyday commerce as a result of agreements like Travala, the top blockchain-based travel booking site in the world, and other emerging partnerships. Additionally, it refers to the USDD’s multi-chain circulation.
With TRX excluded, the collateral ratio for USDD is 0.87, which is less than 1. However, the collateral ratio is 1.7 when taking into account TRX that has been put in the burn account and in reserve wallets.
Currently TRON Q4 2022
The second study, titled “State of TRON Q4 2022,” examines TRON’s overall performance. TRON is an open-source blockchain network that employs the Delegated-Proof-of-Stake (DPoS) consensus algorithm. The paper emphasizes TRON’s dominance in the stablecoin market and its selection as the official protocol for the Commonwealth of Dominica’s national blockchain infrastructure. With an unprecedented jump of 1.3 million new accounts on December 10, the average number of active daily addresses climbed by 17.9%. Also rising by 22.4% were daily transactions on average. A 25.3% rise in total quarterly revenue was notable, especially in view of the current weak market.
The paper underlines TRON’s primary benefits, including scalability, low transaction costs, and an intuitive user interface, which make it an appealing choice for developers and business owners. With the introduction of TRON Academy and three seasons of Hackathons, the development community for TRON grew even more. TRON nodes were dispersed over more than 30 geographical regions as of December 31, with 23% of them situated in China.
TronLink, TRON’s suggested digital asset wallet, has features including the ability to stake TRX for Energy and Bandwidth and is compatible with Android and iOS. TRON DAO Ventures (TDV) was introduced and added to the $1 billion TRON DAO Ecosystem Fund’s roster of pre-existing investment channels in Q4. Utilization of applications increased in Q4 as seen by a 45% QoQ rise in smart contract triggers.
According to Messari’s findings, the USDD stablecoin and TRON network both have a strong present and a promising future. All signs point to TRON being built the future of commerce and financial services, including rising user accounts, significant collaborations, and a burgeoning developer community.