Tron secured the second position in Total Value Locked (TVL) among all the blockchains.
Tron’s TVL has surged to $5.229 billion, representing 13.97% of the total market.
Tron network has experienced significant development this year, surging to become the second-largest blockchain in terms of Total Value Locked (TVL). TVL represents the total amount of cryptocurrency assets locked within decentralized finance (DeFi) protocols and platforms on a specific blockchain.
According to the data from DefiLlama, TRON’s TVL has now reached $5.229 Billion, or 13.97% of the total market, overtaking the BNB chain. However, Ethereum is the first blockchain with a TVL of $21.49 billion, representing 57.43% of the entire market.
All Chain Total Value Locked (Source: DefiLlama)
TRON’s remarkable achievement has been attributed to several factors, including its recent partnership with decentralized exchange Curve Finance. This move appears to have contributed to TRON surpassing other notable blockchains like BNB Smart Chain, Arbitrum, Polygon, Optimism, and Avalanche in terms of TVL.
BSC holds $2.84 billion (7.59%), and Arbitrum has $1.718 billion (4.59%) in TVL. Closely followed by the Polygon network with approximately $772 million (2.07%). TRON’s rise in TVL signifies its increasing prominence in the DeFi ecosystem.
Recently, the Crypto Twitter buzz centers around BNB’s usage, encompassing fake sales reports and debates over alleged Bitcoin sales by Binance to bolster BNB’s value.
At the time of writing, the trading price of Tron’s native token TRX stood at $0.07641. Holds a daily trading volume of $6.8 billion, which soared 5.26% in a day. Impressively, the 10th cryptocurrency witnessed a price surge of 2% in the last 24 hours.