On May 30, the Total value locked (TVL) in Tron soared nearly to $6 billion as the market cap of the USDD algorithmic stablecoin expanded above $600 million. The blockchain network already surpassed the likes of Avalanche, Solana, and Polygon and is currently the third-largest chain after Ethereum and BNB. There are only two other chains ahead of Tron namely, BNB Chain and Ethereum. Binance Smart Chain’s TVL currently stands above $10 billion, whereas Ethereum is above $93 billion. On top of that, Tron is the only blockchain with steady growth on every major network. For instance, the value of six cryptocurrencies, including Ethereum, Polygon, Solana, Avalanche, BNB Chain, and Fantom, has dropped by double-digits in the past month. As recently as this week, Tron blockchain became the third-largest network in terms of total value locked (TVL) in DeFi protocols, bringing its TVL to $6 billion, according to analytics platform DeFi Llama. To celebrate the milestone, founder Justin Sun tweeted “wen $7B”. While Sun is happy about the breakthrough, he believes that the blockchain network still has a long way to cover. wen 7 B? https://t.co/ar6fDgZjWe — H.E. Justin Sun 🅣🌞🇬🇩 (@justinsuntron) June 1, 2022 Additional data from DeFi Llama and CoinGecko shows that Tron’s TVL explosion appears to coincide with the growth of USDD’s market cap. For instance, Tron’s total value locked surged from $3.73 billion on May 13th to over $6 billio...
