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In Terms of TVL In DeFi, TRON May Overtake Binance Chain

According to DefiLlama data, TRON is enjoying development in its DeFi ecosystem and is currently the third largest blockchain in terms of total value locked, after only Ethereum and the BSC. TRON has a total value locked of $5.8 billion, which is close to the $6.9 billion TVL of the Binance Chain.

With a monthly increase of 41.33%, TRON remains the only blockchain among the top 20 to see gains. It has also increased by 33.23 percent in the last seven days. The DeFi sector as a whole has lost roughly $90 billion in liquidity since last month, with the overall value of the most famous blockchains locked down by 30 to 70% as a result of Terra’s implosion. At the moment, Tron beats well-known Layer 1 networks like Avalanche and Solana.

The value of TRON’s TVL has soared as a result of its new algorithmic stablecoin, USDD. On May 28, the official USD Twitter account reported that the total supply of the USD has hit 600 million in its first month of operation. TRON’s founder, Justin Sun, anticipates major USDD developments in the next week, despite the currency’s recent increase.

Prior to the Terra issue, UST’s success inspired fresh entrants into the crypto market to investigate stablecoins. TRON’s USDD stablecoin was announced on May 5 and has since gotten a lot of press.

The stablecoin, similar to Terra’s UST, is designed to reward arbitrageurs who keep its price close to that of the US dollar by trading between TRX, TRON’s token, and USDD.

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