TRON Outperforms Dogecoin as the US Presses Forward With it’s Stablecoin Bill

TRON’s native token, TRX, has surpassed Dogecoin to become the eighth-largest cryptocurrency by market valuation.  This represents a significant change in the market.   TRON’s market capitalization has risen to $25.7 billion, just as people in the United States are getting more optimistic about stablecoin legislation.

The US Stablecoin Bill increases investor confidence

The Senate’s recent passage of the GENIUS bill, which intends to govern stablecoin supply, has altered public perceptions of the market.   Now that the bill is awaiting House consideration, cryptocurrency enthusiasts and investors are seeking for platforms that will thrive under the new regulations.   According to DefiLlama, TRON is presently the second-largest blockchain in terms of stablecoin market capitalization, trailing only Ethereum.  This momentum could greatly benefit TRON.

TRON has the most USDT transactions

TRON’s power extends beyond its market capitalization.   Artemis claims to have completed more than $694 billion in USDT transactions in May, surpassing Ethereum and the BNB Chain.   Whales account for a large portion of this activity, with Binance being responsible for up to $3 billion in daily USDT transfers over the TRON network.   This demonstrates that TRON is helpful in the real world and capable of handling high volumes of traffic, which is why it is a popular network for huge transfers.

Strategic Moves to Help TRON Grow

SRM Entertainment, a Nasdaq-listed business, announced plans to change its name to Tron Inc. and buy $100 million in TRX.  This contributed to the happy attitude.   Justin Sun, TRON’s founder, has been engaging with more and more US lawmakers, including Senators Bill Hagerty and Bo Hines.  This demonstrates that TRON intends to play a significant role in defining digital asset innovation in the United States.   Sun’s post demonstrates how proactive TRON is.

TRON’s expansion appears to be more than a market blip, as more people use it, it has a loyal user base, and it is lobbying in the United States.   It could indicate a long-term shift in how power operates in the cryptocurrency realm.

Also read: Wyoming Prepares to Launch State-backed Stablecoin WYST