Tron just added $2.2 billion in stable coins in July. Does that make it a buy?
The stable coin network Tron (CRYPTO: TRX) onboarded about $2.2 billion in stable coins in the 30-day period ending on Aug. 4, lifting the total value parked on its network to $91.6 billion. Over the same stretch, the whole stable coin market shrank by $2.7 billion.
A coin gaining while the asset that underpins its entire chain is receding sure looks like a bullish signal. But there's a bit more going on under the hood here, so let's investigate in more detail whether Tron is actually worth buying or not.
The stable coin network Tron (CRYPTO: TRX) onboarded about $2.2 billion in stable coins in the 30-day period ending on Aug. 4, lifting the total value parked on its network to $91.6 billion. Over the same stretch, the whole stable coin market shrank by $2.7 billion.
A coin gaining while the asset that underpins its entire chain is receding sure looks like a bullish signal. But there's a bit more going on under the hood here, so let's investigate in more detail whether Tron is actually worth buying or not.