Tron blockchain Network’s TRX coin is facing a huge struggle in terms of market cap dominance.
Tron Blockchain is a decentralized network, founded by Justin Sun. Justin Sun is a popular crypto lover and he is the CEO of huge number of crypto projects like Sun coin, JST coin, BTT coin, Win Coin, etc. Tron founder also has his hand in multiple crypto platforms and services.
According to an analysis of BeInCrypto, $91.57 billion was approx trading volume of TRX coin in Q1 2022. This trade volume is 50% less trade volume over the first quarter of 2021.
However, it is not all about the TRX coin because around 95% of the cryptocurrencies faced such types of downfall in the interest among crypto investors due to negative market sentiments.
In the first quarter of this year, Tether (USDT) and BUSD were the most used traded coin for the TRX coin.
TRX coin price
The current price of the TRX coin is $0.062 and this price is 48% down over the last 1 year of time frame.
At this price, the ranking of this coin is 22nd, which is not bad but also not a good rank because the Tron network is highly fast in comparison to all other top-ranked crypto assets.
Recently Tron founder Justin announced the launch of USDD stablecoin, which pumped the TRX coin by 12% on the same day of the announcement but failed to hold stability.
A few months ago, Justin Sun left the crypto industry to contribute to the non-crypto sector, and also Tron blockchain is not directly entering the Web3 and Metaverse-based projects. So maybe these facts are a big reason for this downfall in this coin.