BUSD on Tron Network Hits 101M, Few Holders

BUSD Hits 101M in Total Value

The Binance and Tron bond keeps getting stronger. Just days after dropping the Binance pegged version of BUSD on Tron Network, the total value of the token has eclipsed the $100 million mark.

TRON Founder and crypto star Justin Sun took to Twitter to announce his congratulations on the move and recognized the growth of stablecoins and Tron Network.

Justin Sun notably deposited 100M of BTC into Binance in late December. Sun told CoinDesk in an interview that he transferred the sum to Binance as a show of confidence in the exchange. The exact amount of BUSD available on Tron is curious.

The BUSD token launched on TRON Network on Dec. 30, and despite the large valuation, only has 378 holders, according to the token contract. The poor distribution could come from the scant availability of the token across the TRON ecosystem.

The TRON Network version of BUSD is available on the Binance Centralized Exchange but has not been listed on major protocols on Tron Network like JustLend or JustStables. Both Just ecosystem protocols make up roughly 85% of the market share on Tron Network.

BUSD is available for swap on the Sun.io Protocol SUNSwap feature but is not available on any yield farm or liquidity pools. Sun.io is the third largest protocol on Tron, with about 12% of the market share.

What is TRON Network:

Tron is an open-source blockchain-based decentralized digital platform with its own cryptocurrency, called Tronix or TRX. Established in 2014 by Justin Sun and founded in 2017 by a Singapore non-profit organization, Tron Foundation aims to host a global entertainment system for the cost-effective sharing of digital content.

Where to find TRON Network:

Website | Twitter | Telegram | Discord | Medium |