Tether Unleashes $1 Billion in USDT on Tron Network
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Aug 20 2024
0mins
Should l Buy TRX?
Source: TipRanks
Tether's Recent Minting Activity: Tether minted $1 billion in USDT tokens on the Tron network, contributing to a total of $33 billion minted over the past year, with $19 billion specifically on Tron. This minting is aimed at managing liquidity and preparing for future demands.
Tron's Growing Influence: The minting activity underscores Tron's increasing significance in the crypto market, as it now holds 37.9% of the total stablecoin market share, reflecting over $61 billion in stablecoin transactions.
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Analyst Views on TRX
Wall Street analysts forecast TRX stock price to fall
3 Analyst Rating
3 Buy
0 Hold
0 Sell
Strong Buy
Current: 1.570
Low
1.25
Averages
1.47
High
1.75
Current: 1.570
Low
1.25
Averages
1.47
High
1.75
About TRX
TRX Gold Corporation is a Canada-based gold company advancing the Buckreef Gold Project in Tanzania. The Company is engaged in the exploration, development and production of mineral property interests in the United Republic of Tanzania. The Buckreef Project's prospects include Buckreef, Bingwa, Tembo, Eastern Porphyry and Buziba. The Buckreef Project encompasses three main mineralized zones: Buckreef South, Buckreef Main and Buckreef North. The Company produces gold at its 2,000 tons per day processing plant. The Buckreef Gold Project hosts a Measured and Indicated Mineral Resource of 10.8 million tonnes (MT) at 2.57 grams per tonne (g/t) gold containing 893,000 ounces (oz) of gold and an Inferred Mineral Resource of 9.1 MT at 2.47 g/t gold for 726,000 oz of gold. Its Eastern Porphyry and Anfield zones are located approximately 250 m to 700 metres (m) east of the Buckreef Main Zone.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
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