News

Tron’s (TRX) Total Value Locked in DeFi Exceeds $8B

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  • Total value locked on Tron’s DeFi ecosystem has exceeded $8 Billion
  • Tronscan.org has launched a new feature that tracks the total value locked in the network’s DeFi ecosystem
  • The Tron network continues to focus on increasing its stablecoin offerings as demand grows

The Tron (TRX) network has reached a new milestone in the form of total value locked on its DeFi ecosystem. According to Tronscan.org, the total value locked on the Tron network now stands at $8.096 Billion as seen in the following screenshot courtesy of the tracking website.

Tron's (TRX) Total Value Locked in DeFi Exceeds $8B 3

TVL on Tron Has Had a Peak Value of $8.136 Billion

From the data above, it can be observed that the total value locked on the Tron DeFi ecosystem had hit an all-time high of $8.139 billion earlier today.

TronScan.org Launches Feature of Total Value Locked on Tron

To note is that the tracking feature of the total value locked on the Tron network was launched earlier this month by TronScan.org with Justin Sun making the announcement through the following statement on Twitter.

Tron TVL (Total Value Locked) Inquiry Function Now Live!

tronscan.org/#/data/stats/t

@TRONSCAN_ORG is the first block explorer based on TRON. It not only includes some basic functions of the block explorer but also directly supports token creation.

Tron Continues to Expand its Stablecoin Offerings

In another announcement, Justin Sun highlighted Tron’s achievements in the stablecoin realm. As of July 2nd, 2021, the Tron network now hosts the following stablecoins and their associated value.

  • TRC-20 Tether (USDT) – $31.9+ Billion
  • TRC-20 True USD (TUSD) – $322+ Million
  • TRC-20 USDJ (USDJ) – $269+ Million
  • TRC-20 USD Coin (USDC) – $108+ Million

Mr. Sun went on to reiterate that stablecoins on Tron (TRX) were in demand due to their various uses in DeFi and trading. He explained:

TRON is known to have many successful cases of #stablecoin issuance, with TRC20-USDT as the most widely known case; the steady increase of #TRC20–#USDT circulation supply and unique addresses are adequate proof of the demand for stablecoins.

Sourced by Ethereum World News

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