Tron prices held steady on Saturday, as investors continue to focus on the ongoing cryptocurrency recovery and the gains made through UNIFI. The TRX token rose $0. 70, which is about 50% above the lowest level this year. Its market cap has jumped to over $6.4 billion, making it the 17th biggest cryptocurrency in the world.

Unifi protocol and USDD growth

The TRX price has surged sharply over the past weeks, as cryptocurrencies rebound. XRP, Bitcoin, Ethereum and Bitcoin have all seen significant gains in recent weeks, with the market cap for all digital coins reaching over $1.1 trillion.

Tron also rose due to the significant gains made by USDD (the stablecoin) that was launched in May of this year. USDD, an algorithmic crypto coin with high collateralization, hopes to be a major player in the crypto market.

However, concerns remain about the slow growth of the currency. Its market cap is now $725 millions. After it moved from $0 and saw strong inflows, however. This could indicate that the coin’s demand may have reached its peak.

One, investors are worried about its future because the coin is algorithmic and is backed with risky cryptocurrencies such as TRX and Bitcoin.

The expanding DeFi universe has caused the

Tron market to rise. According to DeFi Llama’s data, Tron’s total value locked (TVL), has increased to $5. 88 billion makes it the third largest platform, after Ethereum and BNB.

The Unifi Protocol has driven the majority of this growth. The total value locked in Unifi has jumped by 581% in the past 30 days to $1.5 million. This is remarkable considering that Unifi is a relatively new platform. Unifi offers several products such as uTrade and uStake.

Tron price prediction

The four-hour chart shows the strong bullish trend of the TRX price over the past few days. It has maintained above the ascending trendline in red. At the same time, it has moved slightly above the 25-day moving average while the Relative Strength Index (RSI) has moved slightly below the overbought point at 70.

It is likely that Tron’s price will rise in August due to increased demand. If this happens, the next key resistance level to watch will be at $0.80.