TRON Network Highlights
1. TRON Ranks Second in Stablecoin Market Cap Among All Public Chains
According to DefiLlama data, TRON's stablecoin ecosystem (including USDT, USDC, TUSD, USDJ, and USDD) has reached a market cap of $36.13 billion, positioning it as the second-largest stablecoin network after Ethereum.
2. USDC Circulation on TRON Exceeds 2.88 Billion Tokens
On June 17, TRON DAO Reserve added 300 million USDC to its network, bringing the total circulation to 2.88 billion USDC. This milestone underscores TRON's growing role in global stablecoin liquidity.
3. Daily Stablecoin Transfers Surpass $12.4 Billion
Data from TRONSCAN reveals that TRON-based stablecoins (USDT, USDJ, TUSD, USDC, USDD) averaged $12.4 billion in daily transfers over the past week (June 10–16), highlighting robust network activity.
4. TRON Accounts Cross 98 Million
As of June 16, TRON's total accounts exceeded 98 million, with over 3.3 billion transactions processed and a Total Value Locked (TVL) of $9.1 billion.
5. TRX Deflation Continues: 9.4 Billion Tokens Burned
TRONSCAN reports 33 consecutive weeks of TRX deflation, with 9.4 billion tokens permanently removed from circulation, enhancing scarcity.
Weekly News Digest
1. Three Arrows Capital Faces Liquidity Crisis
Amid market downturns, Three Arrows Capital (3AC) reportedly struggles with liquidity issues, including a $500 million loss** from its LUNA investment. Anonymous sources claim 3AC holds **$2 billion in liabilities against $200 million in liquid assets.
2. Celsius Suspends Withdrawals Amid stETH Depegging
CeFi platform Celsius Network paused withdrawals due to liquidity strains caused by its heavy exposure to stETH, which lost its peg to ETH. Regulatory investigations have been launched in New Jersey, Alabama, and Kentucky.
3. Regulatory Developments
- UK: Plans to become a "global crypto hub" while maintaining sanctions compliance.
- U.S.: Treasury Secretary Janet Yellen urges Congress to advance digital asset regulations.
- Panama: President vetoes a Bitcoin regulation bill, citing financial system alignment needs.
4. Market Metrics
- Global crypto market cap dipped below $800 billion on June 19 (CoinMarketCap).
- DeFi liquidations hit **$123 million** in 24 hours, led by Liquity ($61.46M) and Compound ($31.16M).
- Stablecoin supply saw its first-ever quarterly decline, with 40% of DAI liquidated.
NFT and Web3 Updates
1. NFT Platforms Proliferate in China
Over 500 digital collectible platforms have launched in China as of June 2022, up from 100 in February.
2. Paris 2024 Olympics Adopts Blockchain Ticketing
The event will leverage blockchain for secure, transparent ticket sales.
3. OpenSea Migrates to Seaport Protocol
The upgrade reduces gas fees by 35%, potentially saving users $460 million annually.
Investment Trends
1. Major Losses for Corporate BTC Holders
- Tesla: Lost $500 million on its 43,200 BTC holdings.
- MicroStrategy: Down $900 million on 129,218 BTC.
2. Notable Funding Rounds
- Immutable: Launched a $500 million fund for Web3 gaming on Immutable X.
- Clockwork Labs: Raised $22 million (a16z) for MMORPG BitCraft.
- NFTPort: Secured $26 million to expand NFT infrastructure.
FAQs
Q1: Why did Celsius pause withdrawals?
A: Celsius faced liquidity issues after stETH (its major asset) depegged from ETH, making redemptions unsustainable.
Q2: How does TRON’s stablecoin ecosystem compare to Ethereum’s?
A: TRON holds the second-largest stablecoin market cap ($36B), with faster transactions and lower fees than Ethereum.
Q3: What’s the impact of TRX deflation?
A: Reduced supply increases scarcity, potentially boosting TRX’s long-term value.
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