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- Tron has achieved the second rank in Total Value Locked (TVL) among all blockchains.
- Tron’s TVL has increased to $5.229 billion, accounting for 13.97% of the overall market.
The Tron network has undergone substantial growth this year, rising to the position of the second-largest blockchain by Total Value Locked (TVL). TVL indicates the total value of cryptocurrency assets secured within decentralized finance (DeFi) protocols and platforms on a particular blockchain.
As per data from DefiLlama, TRON’s TVL has now reached $5.229 billion, which is 13.97% of the total market, surpassing the BNB chain. In contrast, Ethereum remains the leading blockchain with a TVL of $21.49 billion, representing 57.43% of the entire market.
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All Chain Total Value Locked (Source: DefiLlama)
TRON’s significant accomplishment can be attributed to various factors, including its recent collaboration with the decentralized exchange Curve Finance. This partnership seems to have played a role in TRON outpacing other prominent blockchains such as BNB Smart Chain, Arbitrum, Polygon, Optimism, and Avalanche in terms of TVL.
The BSC has a TVL of $2.84 billion (7.59%), while Arbitrum has $1.718 billion (4.59%) in TVL. The Polygon network follows closely with around $772 million (2.07%). TRON’s growth in TVL highlights its rising importance within the DeFi ecosystem.
Currently, discussions on Crypto Twitter are focused on BNB’s usage, including rumors of fake sales reports and controversies regarding alleged Bitcoin sales by Binance to support BNB’s value.
At the time of this report, the trading price of Tron’s native token TRX was $0.07641, with a daily trading volume of $6.8 billion, reflecting a 5.26% increase in a single day. Notably, the 10th cryptocurrency experienced a price rise of 2% over the last 24 hours.
Will Tron maintain its position above BNB Chain? Share your thoughts with us at @The_NewsCrypto
