TRON Protocol Overtakes The Top Public Chain In Terms Of Stablecoin Market Cap

The majority of its initiatives, including the TRON Protocol, are seeing advances across the board when the cryptocurrency industry has regained the $1 trillion market value (TRX).

According to data by TRONSCAN released on August 1, TRON‘s total transfer value has recently crossed the $5 trillion milestone, adding 105 million new accounts and logging more than 3.6 billion transactions on its blockchain.

Its total value locked (TVL), on top of all that, has topped $11 billion. These factors make it “the 2nd largest public chain by stablecoin market cap & Top3 largest public chain by TVL,” according to a tweet from the TRON network explorer.

The TRON Protocol ecosystem’s growth

TRON’s relationship with WeFund, a multichain community crowdfunding incubator for blockchain and real-world initiatives, with the aim of gaining more users in the DApp market and offering more use cases for TRON-based payments, is one of the likely explanations for the cryptocurrency’s growth.

Following the collapse of the Terraform Labs ecosystem, TRON’s quick growth, which saw its TVL in decentralized finance (DeFi) rise by 47 % month over month (MoM) in May, made it the sole blockchain to post positive results.

In contrast, the largest DeFi ecosystem’s TVL, Ethereum (ETH), fell by 35% MoM at the same period. Losses for Binance Coin (BNB), Polygon (MATIC), and Solana (SOL) ranged from 27 to 38%.

DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

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