Tron Just Added $2.2 Billion in Stablecoins in July. Does That Make It a Buy?
Tokenomics are a bigger factor than capital inflows here.
Overview
The stablecoin network Tron (CRYPTO: TRX) onboarded about $2.2 billion in stablecoins 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 stablecoin 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.
Image source: Getty Images.
Details
Source
Originally published at www.fool.com.
Related Articles
Disclaimer: This article is for informational purposes only and does not constitute investment advice. Data may be delayed up to 15 minutes. Past performance is not indicative of future results. Consult a licensed financial advisor before making investment decisions.