The Tron network has shown significant growth over the past five years and recently reached a new milestone by surpassing 13 billion transactions. This achievement coincides with the launch of a new Ruble-backed token in Russia.
Transactions on the Tron Network
The Tron network recently surpassed 13 billion transactions, establishing itself as one of the most successful blockchain technologies in the world. The network has recorded over 8 million daily transactions. A report by CryptoQuant revealed that a substantial portion of the transaction activity was related to stablecoins, particularly USDT, which maintains its status as the most dominant stablecoin on the Tron network. Tron channels an average of over $21 billion in USDT transfers every week.
Launch of RUBx in Russia
Recent news has reported that Rostec, a Russian state technology company, launched a new cryptocurrency token called RUBx, which is a stablecoin backed by the Russian Ruble. RUBx is notable for being the first Russian stablecoin developed by a state corporation to be rolled out on a public blockchain. This launch potentially allows Russian users to bypass international sanctions as well as traditional banking systems like SWIFT. It is expected that Tron may benefit from the increased demand for international financial services in Russia.
TRX Price Dynamics
The native cryptocurrency TRX has demonstrated bullish momentum in late June and maintained a positive trend in the first week of July. As of the time of publication, the price of TRX stood at $0.28. Chart analysis indicates that 4% of TRX in circulation has been acquired in the last four weeks, confirming strong demand. Approximately 65% of the coins have been acquired or held for more than 12 months, indicating a long-term interest. Despite some fluctuations, TRX's price continues to show steady growth.
The Tron network continues to set new transaction volume records and expand its regional adoption, while the launch of the RUBx stablecoin in Russia may enhance demand for Tron tokens and strengthen its position in the international arena.
