According to DefiLlama data, TRON is expanding its DeFi ecosystem and is currently the second-largest blockchain in terms of total value locked, only behind Ethereum. TRON has surpassed the Binance Chain’s TVL of $5.23 billion with a total value locked of $5.83 billion.
Prior to this, TRON DAO Reserve collaborated with JustLend to grow its DeFi ecosystem. The supply mining incentives will be given out in USDD, TRON’s stablecoin, by JustLend.
The crypto market had a widespread recovery, so the price of TRX increased by 6.17 percent over the previous week as well. At the time of publication, TRX was trading at $0.069. The token is the 13th largest in terms of market capitalization.
According to Justin Sun, TRON Founder, 445 million USDC has been added to the TRON reserve. With this action, the supply of USDC on TRON has now increased to over $3.3 billion.
Also, TRON DAO Reserve stated that it had acquired additional TRX and USDD token purchases totaling $20 million. There were two transactions for this addition.
CryptoQuant reports strong activity in altcoins on a number of exchanges. This is true even though on-chain movements indicate a generally calm environment for Bitcoin. The analysis makes it very evident that whales are stockpiling altcoins on exchanges.
Additionally, Santiment, an Onchain analytics company, observed that whales were warming up in some altcoins. “What we see is the network growth increasing significantly. This metric illustrates user adoption over time, and can be used to identify when the project is gaining traction’’.
”And another thing on all three (SAND, API3, and PERP) is whales’ behavior: On one side big players are warming up token holders, on another side, they are increasing their own stake”.
It noted that ‘’Of course it’s a subject to general market direction. Meanwhile, if it stays sideways, these risky bets could probably play out nicely’’.
Image: Shutterstock
Keep in mind that we may receive commissions when you click our links and make purchases. However, this does not impact our reviews and comparisons. We try our best to keep things fair and balanced, in order to help you make the best choice for you.
