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TRON Dominates Stablecoin Transfers and Growth in USDT Activity

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  • TRON’s network is largely driven by stablecoin transfers, with over 99% of all its trading activity coming from USDT transactions and most of it peer-to-peer.
  • In 2024, TRON reached its highest Tether (USDT) trading activity, processing about $17.9 million in transfers and 5.46 trillion in DeFi and trading.

TRON has become one of the leading blockchain platforms that is largely driven by the use of stablecoins and wallet-to-wallet transfers, which are some of the key contributors to its network activity.

Lately, the platform has gained more users’ attraction due to the introduction of zero-gas USDT transfers, which makes transactions more efficient and cost-effective for users.

According to data from Messari, over 99% of TRON’s network activities come from stablecoin transfers. A large majority of those transactions are peer-to-peer, where users send and buy tokens directly with each other without a third-party intervention. Messari also noted that only a small percentage of all the transactions are directed to exchanges or used with DeFi protocols.

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TRON (TRX) Growth in USDT Transactions and Market Stability

In 2024, TRON (TRX) reached its highest level of Tether (USDT) activity. It processed an average of $17.9 million in token transfers, while DeFi and trading volume growth totalled about $5.46 trillion. Recently, the figures have gone way higher as TRON now reports over 9 million daily transactions, with more than 2.38 million in USDT transfers.

The transfer volume for USDT fluctuates between $14 billion and $28 billion in 24 hours, and this is highly dependent on market conditions. The chain is also attracting attention for its deflationary native token TRX, which is priced at $0.23. It has remained one of the least volatile altcoins during the recent market crash.

Despite having just a few use cases that are beyond payments, TRON’s on-chain metrics have constantly been increasing. The network still holds one of the smallest DeFi sectors, and its meme tokens are confined to its native blockchain.

Related Reading | Is Cardano’s Bounce a Bull Trap? ADA Struggles Below Key Moving Averages

Tron Unveils Bold Plan for Zero-Fee Stablecoin Transactions

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  • Tron plans to eliminate fees for stablecoin transactions soon.
  • Stablecoin market dominance growing with $60B on the TRX network.
  • Zero-fee transfers could accelerate retail crypto adoption worldwide.

Tron founder Justin Sun has announced plans to remove fees on stablecoin transfers, positioning the platform to lead in crypto adoption. This move will enhance user experience, making transactions faster and more cost-effective.

Zero-Fee Stablecoin Transfers To Boost Growth

Tron founder Justin Sun recently announced the platform’s plan to eliminate fees for stablecoin transactions. This development aims to make stablecoin transfers completely fee-free for users,  further enhancing the attractiveness of the blockchain. Sun’s team is focused to provide a seamless transaction experience with zero fees, which could significantly boost adoption.

Justin Sun expressed confidence that the plan will revolutionize the industry by making crypto payments more accessible. He noted that the introduction of zero-fee stablecoin transfers is expected to be a game-changer for retail payments. Although the project was initially scheduled for launch in late 2024, it faced slight delays but remains on track for completion.

Stablecoin Market Dominance

Tron, known for its low transaction fees, has become a dominant player in the stablecoin market. According to data, the blockchain network currently processes nearly $60 billion of the $214 billion stablecoin market. Its platform hosts popular stablecoins like Tether (USDT), USDC, and True USD (TUSD), making it one of the largest in terms of stablecoin transaction volume.

The push for zero-fee transactions follows Tron’s remarkable growth in 2024. The blockchain’s market cap surged by 62%, reaching $21.94 billion. Tron’s revenue also saw a 35% increase, reaching $740.3 million. Stablecoin and wallet transfers made up over 99% of the network’s activity, indicating its dominance in this space.

The network’s remarkable performance in 2024, especially in decentralized exchange (DEX) volumes, also strengthens its position. DEX volumes increased by 135%, primarily driven by the launch of SUN V3. DeFi activity saw a slight decline but Tron continues to expand its ecosystem and user base.

Growth Strategy for the Ecosystem

In addition to technical upgrades, Tron is committed to expand its ecosystem through strategic partnerships, acquisitions, and investments. Moreover, the launch of SushiSwap and a $30 million investment in World Liberty Financial helped foster the blockchain’s growth.

Tron is committed to enhance its network in future by focusing on scalability and performance. Efforts include API optimization, ARM architecture support, and dynamic transaction fee adjustments. These initiatives aim to improve the overall user experience and ensure long-term sustainability.

Tron’s commitment to reduce transaction fees to zero highlights its determination to lead the stablecoin sector. The upcoming feature is expected to have a significant impact on crypto adoption.

World Liberty Financial Unveils Bold Move to Acquire TRX Tokens

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  • World Liberty Financial aims to acquire TRX tokens for its treasury.
  • Justin Sun advises World Liberty Financial, increasing Tron’s influence.
  • Tron will sponsor the inaugural crypto gala during Trump’s ceremony.

Trump-backed World Liberty Financial has announced its plan to acquire TRX tokens for its treasury. This latest move reflects the project’s deepening ties to the Tron network and its push to offer widespread crypto-financial services.

World Liberty Financial aims to acquire TRX tokens

World Liberty Financial, a crypto project backed by the Trump family, is planning to acquire Tron (TRX) tokens for its treasury. This move will strengthen the connection between the Trump-backed project and the Tron network. Justin Sun, the founder of Tron and the largest WLFI token holder, already plays an advisory role for World Liberty Financial.

The exact amount of TRX tokens World Liberty Financial intends to acquire remains unclear. However, the crypto project has already raised $90 million through WLFI token sales.

World Liberty Financial is positioning itself as a key player in offering crypto-financial services. The company aims to bring crypto offerings to more users, with Donald Trump as its “chief crypto advocate.” Trump’s return to the White House is expected to usher in a new era for the crypto industry, especially in terms of regulation.

Tron’s involvement with World Liberty extends beyond advisory support. A delegation from Tron is expected to attend Trump’s inauguration on January 20. The Tron network also sponsored the inaugural crypto gala in Washington, D.C., to show its support for the upcoming administration.

World Liberty Financial Treasury

World Liberty Financial’s crypto treasury has seen significant growth in recent months. The project has acquired numerous tokens such as Ethereum, AAVE and Chainlink, to diversify its holdings. Additionally, the company invested over $1 million in tokens like Ondo and Etherna, to further expand its portfolio.

The project’s blockchain wallet holds various crypto assets, including 1,213 ETH, 17.1 million USDC and 6,137 AAVE. The wallet also contains substantial holdings in WBTC, LINK and other altcoins such as UNI and PEPE. This shows World Liberty Financial’s commitment to strengthen its financial position.

Impact of the Announcement and TRX Price Action

TRX saw a surge in value, reaching a high of $0.2587 in a day following the acquisition reports. However, the token quickly lost momentum and dropped by 6.41% to $0.2421. Currently, TRX is down by 0.95% over the past day and 0.38% over the past week.

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The announcement of the potential TRX acquisition highlights the growing importance of crypto projects in political and financial spheres. As Trump’s presidency is poised to influence crypto regulation, the ties between World Liberty Financial and Tron are expected to have significant implications. 

TRON Slashes $6 Billion in Illicit Volume, Fuels TRX Growth

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  • TRON’s illicit volume falls by $6 billion in 2024, boosting TRX’s appeal..
  • Positive market reaction follows T3 crackdown on illegal transactions.
  • TRX sees growth, with whales increasing their investments in the token.

In 2024, TRON achieved a significant milestone by slashing illicit volume by $6 billion. This success is creating a ripple effect across the market, propelling TRX’s price and fostering trust in the blockchain’s long-term potential in the crypto space.

Major Drop in Illicit Volume

TRON’s blockchain network has experienced a notable reduction in illicit activities, with illicit volume dropping by $6 billion in 2024. This decline reflects the blockchain’s successful efforts to combat criminal activity, enhancing its reputation. As a result, TRON’s native token, TRX, has seen positive market reactions, gaining value in recent days.

The TRON blockchain has for a long time faced criticism for its association with illicit activities. In 2024, it accounted for 58% of illicit volume, the highest among major blockchains. However, a collaborative effort between TRON, Tether and TRM Labs through the T3 Financial Crime Unit (T3 FCU) has helped to significantly decrease these illegal transactions.

According to a report from TRM Labs, illicit activity on TRON dropped by $6 billion. This represents a decrease of approximately 50% TRON-related illicit volume, reflecting the effectiveness of these initiatives. In August 2024, the T3 FCU froze over $130 million in illicit assets, further demonstrating its commitment to address the issue.

TRON’s efforts, combined with its low transaction fees, robust smart contracts, and popular stablecoins, have made it a preferred blockchain for many users. These features have attracted more legitimate users while reducing criminal involvement. Although it has faced challenges in the past, TRON’s blockchain continues to advance and improve its appeal to more users.

Overall Illicit Volume IN Crypto Market

Moreover, the broader cryptocurrency market has also seen a reduction in illegal activities. In 2024, the total illicit volume dropped by 24%, from $59 billion to $45 billion. While illicit volume still represents a small portion of total transactions, this downward trend highlights improved security and transparency in the crypto space.

Other blockchains also witnessed a significant drop in illicit volume. Ethereum blockchain came in second with a 24% drop in illicit volume , Bitcoin saw a 12% drop while BNB Smart Chain and Polygon witnessed a 3% drop each.

This highlighted the growing need for blockchains with low transaction fees, smart contracts, and popular stablecoins.

Price Action

The drop in illicit activities on TRON has also positively impacted the price of TRX. Over the last 24 hours, TRX saw a 3.02% increase, strengthening its market momentum. Technical indicators, such as the RSI and MACD, show that buyer interest is growing, further boosting confidence in TRX.

TRX MACD RSI
TRON Slashes $6 Billion in Illicit Volume, Fuels TRX Growth 4

The involvement of large holders,whales, has also contributed to TRX’s upward trend. These investors have shifted their focus toward TRX, leading to positive netflows. This increase in capital inflows suggests that whales remain confident in the future potential of TRX.

The reduction in illicit activities on TRON is likely to foster further growth and adoption of the network.

Ground breaking : Hong Kong Issues Tokenized Legal Notices Illicit Tron Wallets

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  • Hong Kong courts serve tokenized legal notices to illicit Tron wallets.
  • Court orders help freeze assets but fail to stop some illicit transfers.
  • Tokenized notices offer new way to tackle anonymous blockchain crimes.

Hong Kong has taken a bold step in the fight against crypto crime by issuing tokenized legal notices to anonymous wallets holding stolen assets. This innovative use of blockchain technology aims to strengthen enforcement and transparency in digital transactions.

Hong Kong issues tokenized legal notices

Hong Kong courts have taken a revolutionary step by serving tokenized legal notices to illicit crypto wallets. These notices, which utilize blockchain technology, aim to freeze stolen assets in anonymous wallets. This move marks a significant shift in the legal actions taken against cybercriminals in the cryptocurrency space.

Hong Kong court recently issued tokenized legal notices to two Tron-based wallet addresses. These wallets had been used to store stolen assets, including 2.65 million USDT. Although the notices to freeze some assets arrived late to Tron, the court managed to freeze approximately 1 million USDT.

The decision to use tokenized legal notices seeks to address the growing challenge of serving legal documents to anonymous crypto wallet holders. In-person delivery or email of legal documents have proven ineffective in the context of blockchain-based crimes. Legal experts in Hong Kong believe this approach bridges the gap between conventional law enforcement and decentralized cryptocurrency networks.

Progress in combating crypto-related cybercrimes

Joshua Chu, a cybersecurity consultant, appraised the importance of tokenized notices in avoiding more illicit transactions. He said that centralized exchanges are bound by anti-money laundering and know-your-customer (KYC) laws and are likely to avoid engaging with suspicious wallets. This enables increased accountability for cryptocurrency exchanges that operate within regulated environments.

Tron TLN
Ground breaking : Hong Kong Issues Tokenized Legal Notices Illicit Tron Wallets 7

Source: Tronscan

Macro Systems, a cybersecurity and blockchain solutions company, provides the technology used in these tokenized notices. Although the current system primarily targets Tron, it is also being tested on Ethereum and Polygon blockchain networks. The technology is set to expand its reach further with potential applications for Bitcoin.

In 2023, Hong Kong saw its first four court orders related to blockchain addresses, including Tron wallets. These cases included injunctions against wallet addresses, reflecting a growing trend toward digital justice. As blockchain technology becomes more integrated into legal frameworks, there is optimism that similar approaches will be adopted across the world.

Tron DLAW
Ground breaking : Hong Kong Issues Tokenized Legal Notices Illicit Tron Wallets 8

Global Adoption of Tokenized Legal Notices

The UK has also experimented with blockchain technology in the legal field. In the case of ‘Osbourne v Persons Unknown’, the High Court of England and Wales allowed legal documents to be served via NFTs. This innovative approach mirrored previous decisions, such as the D’Aloia case, which also used NFTs to serve legal notices.

The US has witnessed similar cases where courts allowed legal documents to be served through blockchain. In the ‘LCX AG v John Doe’ case, the New York Supreme Court permitted the use of NFTs to issue legal notices to anonymous defendants. These cases highlight the legal system’s adaptability to digital advancement, despite challenges in enforcement.

Hurdles in Tokenized Legal Notices

The adoption of blockchain-based legal notices continues to face enforcement challenges. Hong Kong legal practitioners are still unfamiliar with the mechanics and benefits of blockchain technology, which slows down implementation. However, courts remain interested in using digital methods to enforce legal rulings, especially when traditional methods fail.

Moreover, the anonymity of blockchain transactions and the global nature of cryptocurrency markets complicate the enforcement of court orders. Experts suggest that a more cohesive legal framework and international collaboration is necessary to effectively address these issues.

Tron Dominates Stablecoin Surge : Outpaces Ethereum with $592M Inflow in Just 7 Days

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  • Tron leads stablecoin growth with a $592M surge in seven days.
  • Ethereum adds $573M, solidifying its role in DeFi liquidity gains.
  • Avalanche and Arbitrum struggle with combined $1.2B outflows.

Tron and Ethereum are setting the pace in stablecoin gains, while Avalanche and Arbitrum battle significant declines, signaling shifting trends.

Tron Outpaces Ethereum in Stablecoin Surge

Tron recorded the largest weekly stablecoin gain among blockchain networks, with an influx of $592.16 million in seven days. Ethereum followed closely with a $573 million increase, underscoring its continued dominance in DeFi activities. Meanwhile, blockchains like Solana and Polygon also experienced moderate growth in stablecoin balances.

The growth on Tron reflects its appeal for stablecoin users due to low fees and fast transaction times. Ethereum’s consistent performance highlights its central role in decentralized finance and trading activities. These two networks have captured the largest share of stablecoin movements in recent days.

Higher stablecoin balances on Tron and Ethereum indicate growing liquidity, benefiting traders through reduced spreads and improved market efficiency. Increased liquidity on decentralized exchanges (DEX) could lead to more trading opportunities, including arbitrage and yield farming. Market participants are likely to leverage these conditions to optimize their strategies.

Technical indicators show rising trading activity on both networks, with significant increases in 24-hour trading volumes. Tron saw its trading volume rise by 15%, reaching $2 billion, while Ethereum maintained a robust $3 billion volume. These metrics underline the growing adoption of these platforms for DeFi applications and trading.

Market depth analysis reveals an increase in bids and asks, indicating heightened interest from traders. Stablecoin flows into these networks suggest an expanding ecosystem of users and decentralized applications. Thus, Tron and Ethereum are poised for continued growth in the blockchain space.

Avalanche and Arbitrum witness stablecoin decline

Avalanche and Arbitrum saw significant stablecoin outflows, with respective declines of $626 million and $583.52 million. This contrasts sharply with the upward trends seen on other networks like Solana, which gained $408 million. These fluctuations suggest shifting user preferences and potential concerns about certain networks.

However, Arbitrum and Avalanche networks may need to address concerns that have led to reduced stablecoin activity. These declines could signal reduced user interest or a shift in market dynamics to favor other blockchains. Addressing these trends will enable these networks to maintain their competitiveness in the crypto landscape.

The stablecoin market’s movements reflect broader trends in blockchain adoption and user behavior. Tron and Ethereum’s performance highlights their importance in facilitating liquidity and trading. As stablecoins continue to play a critical role in the blockchain economy, these networks remain crucial to the industry’s growth.

FTX EX Founder Found Guilty In Landmark Fraud Case – Report

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According to the latest report, in a high-stakes trial that captured the attention of financial markets and the cryptocurrency community, FTX founder Sam Bankman-Fried has been found guilty of a massive financial fraud scheme. The verdict, delivered after approximately four and a half hours of jury deliberations, marks a significant fall from grace for the once-prominent billionaire.

The trial, which spanned a month, saw Bankman-Fried facing seven counts of fraud and conspiracy. Prosecutors argued that he had looted a staggering $8 billion from customers of his cryptocurrency exchange for personal gain, alleging that greed was the driving force behind his actions.

The verdict was reached by a 12-member jury in Manhattan federal court, carrying a maximum sentence of between 5 to 20 years in prison for each count. The charges included wire fraud, wire fraud conspiracy, and money laundering conspiracy, with the latter carrying a potential 20-year sentence.

U.S. Attorney Damian Williams, the top federal prosecutor in Manhattan, described Bankman-Fried’s crimes as a “multibillion-dollar scheme designed to make him the king of crypto.” This landmark case is now considered one of the most significant financial frauds in American history.

Key FTX Executives Turned Witnesses

Notably, several key FTX executives, including former Alameda CEO Caroline Ellison, FTX co-founder Gary Wang, and former FTX engineering head Nishad Singh, had previously pleaded guilty to various charges. They cooperated with the government, testifying against Bankman-Fried during the trial.

The verdict comes nearly a year after FTX filed for bankruptcy, leading to the sudden collapse of Bankman-Fried’s estimated $26 billion personal fortune, which had earned him the status of a billionaire.

Bankman-Fried, who had pleaded not guilty to all charges, maintained his innocence during the trial. He distanced himself from key decisions, placing blame on others, including Wang and Ellison, and framing certain actions as borrowing rather than fraud.

The conviction serves as a major win for the U.S. Justice Department and underscores its commitment to rooting out corruption in financial markets, even in the relatively new cryptocurrency industry.

This trial, which saw Bankman-Fried testify in his own defense, is the first of several high-profile cases brought against cryptocurrency executives by U.S. Attorney Damian Williams. 

However, Bankman-Fried’s sentencing is scheduled for March 28, 2024, and he could potentially face decades in prison. His defense lawyer, Mark Cohen, expressed disappointment with the verdict and reiterated Bankman-Fried’s intention to continue fighting the charges.

Related Reading | Massive Bitcoin Powerplay: Northern Data’s €575M Boost Stuns Market

Tron Dominates Daily Active Addresses, Surpassing Ethereum And BNB

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In a remarkable surge, Tron, the blockchain platform facilitating smart contracts and decentralized applications (dapps), has witnessed explosive growth in its Daily Active Addresses (DAA). DAA, a key metric measuring the number of unique addresses engaged in token transactions on a blockchain daily, is emerging as a game-changer for Tron’s ecosystem.

As of October 6, data shared by DeFi analyst Alex Wacy, citing Token Terminal, unveiled a startling revelation. Tron boasts over 1.9 million DAA, more than double that of BNB Chain, which, at the time of reporting, stood at 915,000. Ethereum and Polygon trailed behind with 320,000 and 301,000 DAA, respectively, while Bitcoin, the pioneer of blockchain technology, held 570,000 daily active addresses.

This rapid growth implies that Tron is creating 200,000 new addresses daily. Furthermore, essential metrics underscore Tron’s dominance, showcasing participation from a substantial 188 million unique accounts in a remarkable 6.5 billion transactions. This highlights the Network’s commanding presence in the cryptocurrency ecosystem.

Tron’s Dominance In Stablecoin Transactions

Analysts suggest that the surge in Tron’s DAA might be attributed to its pivotal role in stablecoin transactions. Stablecoins, designed to maintain parity with the value of traditional fiat currencies like the USD, find a robust home within the network, with approximately $45 billion of all stablecoins adhering to the TRC-20 standard. Notably, 50% of all USDT transactions occur on the Tron blockchain.

Tron’s ascent in DAA is particularly noteworthy amidst a cryptocurrency landscape grappling with volatility and relatively subdued on-chain activity, particularly in areas like DeFi, the metaverse, non-fungible tokens (NFTs), and blockchain technology.

DeFiLlama data shows a significant decline in Total Value Locked (TVL) in DeFi, now below $40 billion from a peak of $173 billion in late 2021. When examining Daily Active Addresses (DAA), newer third-gen platforms like Tron, BNB Chain, and NEAR Protocol outpace legacy networks such as Bitcoin and Ethereum in terms of cost-effective fees and throughput, attracting more users.

However, it’s important to note that Bitcoin and Ethereum remain prominent despite lagging in DAA. While DAA is a pivotal metric for gauging user interaction with a network, Bitcoin and Ethereum still reign as the preferred blockchain choices.

Bitcoin’s enduring dominance is attributed to its first-mover advantage, robust adoption, and extensive listing on virtually all major exchanges, facilitating daily transfers worth millions, if not billions, of dollars. These factors have solidified its position above Ethereum, although the latter boasts higher activity density, especially regarding fees generated from smart contract executions and transfers.

CryptoFees, a reputable source for economic data related to blockchain protocols, reveals that Ethereum has accrued over $2 million in transaction fees, surpassing Bitcoin’s earnings by more than double. Despite Tron’s impressive surge in DAA, the established giants of the blockchain domain maintain their positions, each exhibiting distinctive strengths and attributes.

Will Tron Suffer the same fate as LUNA?

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Justin Sun, the founder of Tron, has announced a $2 billion reserve to defend TRX from rising short interest.

Many crypto leaders are announcing plans and measures to counter the cryptocurrency carnage as it intensifies. Do Kwon, the founder of Terra, recently revealed plans to revive the UST stablecoin, but prices have since plummeted.

The TRX network, like UST, debuted USDD a few days ago. After LUNA, Justin Sun believes TRON (TRX) will be the next target. He stated that the funding rate for shoring TRX on the Binance cryptocurrency market has above 100% APR. The Tron DAO Reserve will spend $2 billion to combat the price action in order to avoid the dump.

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During market turbulence, Sun added, the USDD has stayed stable. TRX’s stablecoin now has a total cap of $270 million, while TRX DAO Reserve has a value of $10 billion. With a little deflection, the USDD coin is currently trading at $0.995. He also claimed that TRX’s funding rate on Binance is roughly -0.3448 percent, or -1.0344 percent, or -377.556 percent annual percentage rate.

Tron joins the stablecoin club

Tron DAO’s own $USDD is now accessible on Multichain DEX (previously AnySwap), among PancakeSwap, Uniswap, Ellipsis, and sunSwap, the first to list stablecoin.

Users can now use Multichain services to randomly connect $USDD between BitTorrent, Ethereum, Fantom, and Avalanche platforms.

Nothing will stop the self-acclaimed “Terra Destroyer” and its well-known founder, Justin Sun, from developing and grabbing new crypto niches.

The spread of the $USDD on decentralised exchanges follows in the footsteps of the Tron Foundation, which announced its reformation as Tron DAO in January and stated that it was working “towards the mission of delivering the Global Human Settlement Layer of the future.”

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TRX DAO’s own “revolutionary” stablecoin, $USDD, arose as a result of completing this aim. TRXn DAO, which is backed by TRX and $10 billion in cryptocurrency assets, the specific composition of which is unknown, has also announced a $1 billion extra authorization starting on May 7.

Tron DAO then bought 500 BTC and around 600 million TRX on May 10 in accordance with the intentions, “to defend the overall blockchain sector and crypto market.”

Binance Invests $12M in Woo Networks

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Binance LAbs announced its strategic investment of $12 million in Series A+ round of WOO Networks.

The two firms have had a long standing relationship and now join forces to expand their accord in a series A+ funding round .

WOO Network is a liquidity platform that connects users to exchanges, institutions, and DeFi networks. The firm provides active liquidity to 40+ institutions, exchanges, trading teams, wallets and decentralized applications.

WOO Network first started providing liquidity on Binance Smart Chain (BSC), in 2021, through its decentralized WOOFi products. These are products that use WOO Network’s custom market data feeds and enhanced evasion strategies to provide profoundness of the centralized markets; this can be done without having to use excessive on-chain capital.

In light of recent events, WOO Networks liquidity now assists a various number of decentralized protocols such as DYDX, Matcha, ParaSwap, 1 inch, and DODO, weighing capital-efficient solutions to attain dominance over passive liquidity providers. Rani Yi, the chief of Ecosystem Development at WOO Networks said,

“When talking about liquidity, Binance has far-and-away the highest concentration of volume and users of any centralized exchange. Getting the opportunity to formalize our relationship with Binance will allow us to rapidly accelerate our growth by working closer with Binance across all their industry verticals. As a member of Binance Smart Chain’s Most Valuable Builder program, where we develop products and mentor early-stage projects, we are uniquely positioned to expand our strategic relationship.”

Binance follows the trail of other industry heavy weights

The currently bagged funds from Binance are an inclusion to the $30 million Series A funding round that WOO Networks had completed in November 2021. this was led by industry giants such as Three Arrows Capital, Crypto.com Capital, Bittorent, and Avalanche.

In perspective, WOO Networks also provides liquidity to Bittorent’s recently launched Bittorent Chain. It is a cross-chain interoperability scaling code in the TRON world, this will also be in terms with Ethereum and BSC, letting users have a hassle-free transfer of currency amongst the above-mentioned blockchains.