Total value locked (TVL) in Tron soars nearly to $6B as the market cap of the USDD algorithmic stablecoin expands above $600 million within the first month of its launch. ๐The total supply of $USDD has surpassed 600 million within the first month of its launch!๐ Our #StableCoin $USDD is growing much stronger! ๐ Check more ๐ https://t.co/OTvCuPwJOm#USDD is on fire! https://t.co/lhjQLGIwb3 pic.twitter.com/m2hVOhL0uY โ USDD (@usddio) May 28, 2022 According to data from DefiLlama, Tron currently ranks as the third largest blockchain in terms of total value locked, trailing only behind Ethereum and the Binance Smart Chain (BNB) and already surpassing the likes of Avalanche, Solana, and Polygon. Tron currently outperforms prominent Layer 1 networks like Avalanche and Solana at its current TVL. TRON remains the only blockchain among the top 20 recording gains, with a monthly gain of 41.33%. It has also gained in the last seven days, rising 33.23%. In comparison, the DeFi sector as a whole has lost about $90 billion in liquidity since last month, with the most prominent blockchainsโ total value locked down by 30 to 70% as a result of Terraโs fallout. TRONโs TVL has risen in value partly as a result of its new algorithmic stablecoin, USDD. The official USDD Twitter account announced on May 28 that the USDD total supply had reached 600 million in its first month of operation. This has also brought the entire DeFi ecosystem of Tron u...
