• Tron recently surpassed BNB chain to become the second largest blockchain in terms of Total Value Locked (TVL).
• TRON’s TVL has now reached $5.229 Billion, or 13.97% of the total market, and Ethereum is still the first blockchain with a TVL of $21.49 billion.
• The rise in TRON’s TVL signifies its increasing prominence in the DeFi ecosystem, and its native token TRX has seen a price surge of 2% in the last 24 hours.
Tron Emerges as Second Largest Blockchain
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 data from DefiLlama, TRON’s TVL has now reached $5.229 Billion, or 13.97% of the total market, overtaking BNB chain by a wide margin. However, Ethereum is still at first place with a TVL of $21.49 billion, representing 57.43% of the entire market.
Reasons for Growth
TRON’s remarkable achievement can be attributed to several factors such as its recent partnership with decentralized exchange Curve Finance which appears to have contributed to it surpassing other notable blockchains like BNB Smart Chain, Arbitrum, Polygon Optimism and Avalanche in terms of TVL.
BNB Chain vs TRON
BSC holds $2.84 billion (7.59%), and Arbitrum has $1.718 billion (4.59%) in TVL; closely followed by Polygon network with approximately $772 million (2%. At present Crypto Twitter buzz centers around BNB’s usage including fake sales reports and debates over alleged Bitcoin sales by Binance to bolster BNB’s value.