On Friday, Tron (TRX) was made available on Ethereum, the biggest alternative cryptocurrency network, according to a tweet by Tron creator Justin Sun.
According to DeFiLlama statistics, the Tron blockchain has more than $5.6 billion in total value locked and more than 2.9 million active users, making it the second-largest ecosystem in DeFi.
After Sun’s tweet regarding Ethereum’s growth via BitTorrent Bridge, the price of TRX, Tron’s native asset, increased by 2%.
The Tron network, created by cryptocurrency tycoon Justin Sun, is spreading its native asset, TRX, onto Ethereum.
Token for Tron “is now fully accessible within the Ethereum ecosystem,” Sun tweeted. BitTorrent Bridge will be used to increase the accessibility of the asset and its liquidity on Ethereum’s Tron platform. The statement made on Friday gave users of Tron’s TRX token access to a contract address on Ethereum’s blockchain.
According to CoinMarketCap, the native token of Tron is placed #12 among the top 100 cryptocurrencies. As of this writing, the market value of the token was over $8 billion, with a 24-hour trading volume of over $162 million.
With over $45 billion in stablecoins and the second-largest total value locked (TVL) at $5.6 billion, data suggests that Tron is a relative authority in DeFi. DeFiLlama reveals that only Ethereum (27.1 billion TVL and 69.5 billion stables) ranks higher.
When compared to other major networks like Ethereum and Binance Smart Chain (BSC), developer activity on Tron seems to be moving at a slow rate. Over 50% of all TVL on Tron is managed by JustLend, a protocol that runs on top of Tron’s network.