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Tron Overtakes Binance To Rank Second Largest Defi Platform

As per latest data from DefiLlama, TRON is expanding its DeFi ecosystem and is presently the 2nd largest blockchain in terms of total value locked, only behind Ethereum. TRON has crossed past the Binance Chain’s Total Value Locked of 5.23 Billion USD with a TVL of 5.83 Billion USD.

Before this, TRON DAO Reserve joined forces with JustLend to grow its DeFi ecosystem. Interestingly, the supply mining incentives will be given out in USDD, TRON’s stablecoin, by JustLend.

The digital asset market had an extensive recovery, so the price of TRX jumped by over six percent over the last week as well. At press time, TRX was trading at 0.069 USD. The token is the thirteenth largest in terms of market cap.

As per Justin Sun, four hundred and forty five million USDC has been added to the TRON reserve. With this action, the supply of USDC on TRON has now jumped up to more than 3.3 billion dollars.

Furthermore, TRON DAO Reserve mentioned that it had acquired additional TRX and USDD token purchases totaling around twenty million dollars. Notably, there were 2 transactions for this addition.

It is to be noted that the on-chain data by Crypoquant shows an astonishing trend for Litecoin, SAND, and other Altcoins. CryptoQuant reports strong activity in altcoins on a number of virtual asset exchanges. The analysis makes it very apparent that whales are accumulating altcoins on crypto exchanges.

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