Amidst a broader market resurgence, the Tron blockchain has been seeing impressive strength. In fact, the total value locked (TVL) on the blockchain surged to $36.2 billion on December 4.
This figure marked a new all-time high for the network, demonstrating growing appeal among decentralized finance (DeFi) users. The achievement reflects the increasing adoption of Tronās infrastructure for DeFi applications, stablecoin transactions, and smart contract functionality.
The latest development comes as Tronās TRX token achieved a record-high price of $0.44 this week, breaking a seven-year streak and marking a major milestone for the network. Although it has since pulled back to $0.33, the token still stood at weekly gains of 66% as it finally reclaimed the 10th spot by market cap.
Several factors are driving this rally, including speculation about TRXās potential inclusion in Grayscaleās portfolio of investment assets. Grayscale previously announced TRX as one of 35 tokens being evaluated, with quarterly updates expected, fueling optimism for institutional support.
Beyond this, Tron founder Justin Sun has also played a pivotal role in amplifying interest. Sun recently spent $30 million on WLFI tokens associated with Donald Trumpās initiative called āWorld Liberty Financialā and even took on an advisory position. Moreover, his involvement with the conceptual artwork āComedianā has spurred community engagement, with ripple effects boosting activity for related tokens like BAN.
Meanwhile, Messariās recent report revealed that the stablecoin market cap on Tron has seen a consistent upward trajectory over the past year, with Q3 maintaining that momentum. During the quarter, the market cap increased by 3% quarter-over-quarter, rising from $58.02 billion to $59.97 billion. This figure currently stands at a little over $60 billion, as per DeFiLlama.
USDT continued to dominate the stablecoin landscape on Tron, holding a steady 98% market share. Other stablecoins also showed growth in Q3. USDD, the second-largest stablecoin on Tron, increased marginally by 0.11% quarter-over-quarter, from $729.9 million to $730.6 million.
Notably, TUSD experienced the largest growth percentage-wise, surging by 87% quarter-over-quarter, from $89.1 million to $166.6 million. USDJ rounded out the top four, rising 4% during the same period, and concluded Q3 with $70.7 million.
The post Tronās TVL Reaches New Record of $36.2 Billion appeared first on CryptoPotato.
This figure marked a new all-time high for the network, demonstrating growing appeal among decentralized finance (DeFi) users. The achievement reflects the increasing adoption of Tronās infrastructure for DeFi applications, stablecoin transactions, and smart contract functionality.
New Peak For TRX
The latest development comes as Tronās TRX token achieved a record-high price of $0.44 this week, breaking a seven-year streak and marking a major milestone for the network. Although it has since pulled back to $0.33, the token still stood at weekly gains of 66% as it finally reclaimed the 10th spot by market cap.
Several factors are driving this rally, including speculation about TRXās potential inclusion in Grayscaleās portfolio of investment assets. Grayscale previously announced TRX as one of 35 tokens being evaluated, with quarterly updates expected, fueling optimism for institutional support.
Beyond this, Tron founder Justin Sun has also played a pivotal role in amplifying interest. Sun recently spent $30 million on WLFI tokens associated with Donald Trumpās initiative called āWorld Liberty Financialā and even took on an advisory position. Moreover, his involvement with the conceptual artwork āComedianā has spurred community engagement, with ripple effects boosting activity for related tokens like BAN.
Stablecoin Ecosystem on Tron Network
Meanwhile, Messariās recent report revealed that the stablecoin market cap on Tron has seen a consistent upward trajectory over the past year, with Q3 maintaining that momentum. During the quarter, the market cap increased by 3% quarter-over-quarter, rising from $58.02 billion to $59.97 billion. This figure currently stands at a little over $60 billion, as per DeFiLlama.
USDT continued to dominate the stablecoin landscape on Tron, holding a steady 98% market share. Other stablecoins also showed growth in Q3. USDD, the second-largest stablecoin on Tron, increased marginally by 0.11% quarter-over-quarter, from $729.9 million to $730.6 million.
Notably, TUSD experienced the largest growth percentage-wise, surging by 87% quarter-over-quarter, from $89.1 million to $166.6 million. USDJ rounded out the top four, rising 4% during the same period, and concluded Q3 with $70.7 million.
The post Tronās TVL Reaches New Record of $36.2 Billion appeared first on CryptoPotato.
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