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- Tron has witnessed heavy inflows level when other large cap cryptocurrencies were shedding blood
- Tron glimpsed an inflow of about $17.2 million over the past week
- TRX’s total AUM was calculated at $92 million whereas ADA’s has been noted at $68 million
- Following TRX, Solana saw inflows of more than $18.5 million over the past week
Tron, an ambitious altcoin project has seen some incredible inflows where the other assets were losing their price levels. In the current scenario, the crypto market has become unpredictable for investors. Bear or bull, fear or greed, investors in the digital ecosystem are confused and struggling to make sense of the signs and rethink their strategies. However, despite several assets losing their momentum and shed blood in the crypto market’s carnage, some of the altcoins like TRX have witnessed some notable levels of inflows.
Tron witnesses $17.2 million worth inflows
According to recent data shared by CoinShares, it has been noted that Tron (TRX) glimpsed an inflow of about $17.2 million this weekend. Notably, the total inflows in the digital ecosystem were approximately $88 million.
Following the scenario, CoinShares highlighted that the recent price appreciation of TRX has pushed its total Asset under Management (AUM) to above Cardano (ADA). Notably, TRX’s total AUM was calculated at $92 million whereas ADA’s has been noted at $68 million.
Glimpse at the TRX ecosystem
Following such notable inflows, a curious investor might be wondering if there is a reason or several for such a sudden jump in inflows. To understand the scenario, experts took a glimpse at the Tron ecosystem.
It has been observed that this weekend marked the launch of the BitTorrent Chain (BTTC) mainnet. Notably, the BTTC is a Layer-2 solution that makes it possible for TRX to scale and helps move assets among other blockchains including Ethereum, and Binance Smart Chain (BSC). The launch announcement noted that the underlying protocol adopts the Proof-of-Stake (PoS) based consensus algorithm. In contrast, the mechanism helps boost transaction speed with an average block time of 2 to 3 seconds.
Besides, the TRX ecosystem has revealed that it was among the top 15 coins by trending search on the leading crypto assets exchange. Although it’s not a dazzling milestone, it is worth noting that last week Binance wrapped up the sixth round of an NFT airdrop to TRX, BTT, JST, and WIN holders. Conversely, to participate in the event, the users need to hold 100 TRX. Andthe airdrop event seems to be a popular one, as the Twitter announcement has been retweeted more than 1000 times.
TRX is not alone in the crypto market
We have observed that Tron is not the only cryptocurrency that has witnessed majestic inflows. According to some data shared by CoinShares, Solana (SOL) was the other high performer of the week. The cryptocurrency project saw inflows of more than $18.5 million over the past week. It is also noteworthy that the inflows came despite widespread FUD and disagreement around a network slowdown. Indeed, following the scenario, many had believed that there was a distributed denial-of-service (DDoS) attack.
