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TRON’s Closed Value Rapidly Rise To $6 Billion…Here’s Why!

TRON’s Closed Value Rapidly Rise To $6 Billion…Here’s Why!

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Answer TRON’s Closed Value Rapidly Rise To $6 Billion…Here’s Why!

“Tron” is one of the relatively old crypto projects that for a long time has been in the top 50 coins by total market capitalization according to “coinmarketcap”.

Momentum around the TRON project and TRX cryptocurrency increased recently after the launch of the algorithmic stablecoin “USDD”, as the latter increased its catch and its market capitalization quickly rose to over $600 million.

This has also played a large role in the increasing value locked into DeFi protocols on the Tron network.

Despite what happened to the algorithmic stablecoin UST, another alternative appeared earlier in May 2022.

The algorithmically stable coin “USDD” is still far from the previous market cap of the “UST” TERRA coin, but “USDD” is gaining significant and serious momentum.

Read:Huobi intends to launch a new platform dedicated to one of the most important cryptocurrencies

Data from CoinGecko shows that since its launch at the beginning of May, the coin has managed to achieve a market capitalization of over $600 million and is in a constant state of expansion.

This has also resulted in raising the value of the locked-in and contributing to decentralized finance projects based on Tron, with the total value locked into the various protocols on the network approaching $6 billion.

Tron’s TVL has already outpaced notable projects such as Avalanche, Solana, and Polygon and is currently the third largest network in terms of blockchain after Ethereum and Binance.

As for the protocol with the largest unlocked value, Project JustLend (JST), it is also notable that there are nine DeFi protocols on the network that dominate in terms of overall TVL market capitalization.

Read:The “Flare Networks” project is considering integrating the digital currency ADA after consulting users

Read also:

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Here is the story of someone who lost all his family savings to UST


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