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Crypto Long & Short: Inside the chain settling $150 billion of stablecoins a week
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Key facts
- The Robinhood-chain/Solana daily DEX volume ratio surged from 18% to a peak of 97% on Sept. 4, then contracted to 34% by Sept. 20, with a 79% spike on Sept. 21
- Launched in 2018, Tron began as an ERC-20 token on Ethereum before migrating to its own independent blockchain
- The Tron TRX $0.3436 network has quietly become one of the most heavily used blockchains in the digital asset market through a singular focus on speed, cost and settlement efficiency
- Under this system, TRX holders stake their tokens to gain voting power and use that power to elect 27 Super Representatives, the validators responsible for producing blocks and maintaining the network
Summary
By Josh Olszewicz, portfolio manager and head of trading, Canary Capital. The Tron TRX $0.3436 network has quietly become one of the most heavily used blockchains in the digital asset market through a singular focus on speed, cost and settlement efficiency. Launched in 2018, Tron began as an ERC-20 token on Ethereum before migrating to its own independent blockchain. Tron uses a delegated proof-of-stake (DPoS) consensus mechanism.