This week the Tron blockchain has become the third-largest network in terms of total value locked (TVL) in defi protocols.
and the blockchain was ranked number five in terms of TVL size by chains. On that day, Tron’s TVL was down 16.16% lower than it was on May 5, but after the Terra fiasco subsided, Tron claimed the third position in terms of TVL in defi.This month, Tron’s defi TVL increased 45.22% and over the last seven days, as it has risen by 13.73%. Tron’s TVL is dominated by a defi protocol called Justlend, as 48.19% of Tron’s aggregate held in defi is hosted on theapplication. Justlend has $2.
$1.08 billion was added to Justlend since May 21, as the protocol’s TVL increased by 58% since then. Furthermore, Justlend wasby the blockchain security company Certik. Similar to Anchor, USDD deposits on Justlend offer 23.55% APY at the time of writing. Other notable defi applications on Tron, in terms of TVL balances, include Juststables and Sunswap. Juststables has a TVL balance of $1.41 billion and Sunswap has just under a billion in total value locked. USDD has also managed to become the ninth-largest stablecoin among all the fiat-pegged tokens in existence.
The Tron stablecoin’s market valuation today is $603 million and it has seen $179.6 million in 24-hour global trade volume. Statistics from Cryptocompare indicate that
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