- The integration utilizes LayerZero (ZRO) for cross-chain interoperability.
- Connects TRON’s close to $81 billion stablecoin market with Base’s $4.4 billion TVL, creating an $86 billion liquidity bridge.
- TRX is defending $0.27 support, forming a technical double bottom pattern on the weekly chart.
TRON DAO has officially integrated with the Coinbase-backed Base ecosystem via LayerZero, creating a high-velocity bridge for a combined stablecoin market exceeding $80 billion.
Tron Integrates With Base Ecosystem to Scale Interoperability in Web3
With the help of LayerZero (ZRO), the Tron network will be interoperable with the Base chain. As such, the associated tokens from the two chains can now move seamlessly with the help of different decentralized applications (Dapps).
The strategic integration will complement both ecosystems and fuel the mainstream adoption of digital assets and web3 protocols. Furthermore, the Tron network has a strong adoption of stablecoins, currently around $81 billion.
According to market data analysis from DeFiLlama, the Tron network had a reported total value locked (TVL) of about $4.33 billion and around 2.8 million in daily active addresses. On the other hand, the Base chain has grown to the top scaling solution on the Ethereum (ETH) network, with a TVL of about $4.4 billion.
Related: Indian State Karnataka Partners With Coinbase To Back ‘Base’ Startups
With the help of Coinbase, the Base chain has seen its stablecoin market grow to nearly $5 billion and around 500k in daily active addresses. As such, Justin Sun, the founder of Tron, stated that the integration will be crucial to enhancing blockchain interoperability.
“… Each ecosystem will complement the other by improving interoperability, broadening access for developers and users, and supporting secure on-chain activity across networks. It reflects our shared focus on building solutions that address the needs of real users,” Sun said.
How Will the Integration Impact TRX Price?
Although the integration between the two chains is mutually beneficial, the TRX price is well-positioned to benefit heavily. Moreover, Coinbase has made significant progress in pushing the adoption of Base chain legally around the globe including in India and the United States.
As such, the higher TRX demand will fuel its bullish outlook in the long run. From a technical analysis standpoint, the TRX price has already established a support level above $0.27, after forming a potential double bottom.
Source: TradingView
In the weekly timeframe, the large-cap altcoin, with a fully diluted valuation of about $26 billion at press time, has already risen above its 2018 and 2021 peaks. As such, the TRX/USD pair is well positioned to rebound from its established rising logarithmic trendline support fueled by the robust fundamentals.
However, if TRX price consistently closes below the established weekly rising logarithmic trendline support, a potential selloff to $0.14 will be inevitable.
Related: Tron Price Prediction: TRX Attempts Recovery as Traders Eye Key Resistance
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Source: https://coinedition.com/double-bottom-defended-trx-eyes-rebound-following-layerzero-base-integration/
