After the cryptocurrency industry regained a $1 trillion market capitalization, most projects, including the TRON Protocol, exhibit general progress.
In particular, TRON’s total transfer value reached $5 trillion, creating 105 million new accounts and logging over 3.6 billion transactions on its blockchain, according to statistics released by TRONSCAN on August 1.
In addition, its total value locked (TVL) exceeds $11 billion. According to a tweet by the TRON network explorer, these metrics make it “the second biggest public chain by stablecoin market capitalization and one of the three largest by TVL.”
TRON’s announced cooperation with WeFund, a multichain community crowdfunding incubator for blockchain and real-world initiatives, to gain more users in the DApp market and provide new use cases for TRON-based payments may contribute to its rise.
TRON’s TVL in decentralised finance (DeFi) increased by 47 percent month-over-month (MoM) in May, making it the only blockchain to show positive results amid the pessimistic market attitude after the collapse of the Terraform Labs ecosystem. Finbold reported this in early June.
During the same period, the TVL of Ethereum (ETH), the enormous DeFi ecosystem, declined by 35% MoM. Binance Coin (BNB), Polygon (MATIC), and Solana (SOL) also saw losses between 27 and 38 percent.
TRX pricing evaluation
At the time of publication, the price of TRON’s native cryptocurrency TRX was $0.06945, representing a 0.03 percent rise on the day and a 6.06 percent increase over the previous week.
According to CoinMarketCap statistics, TRX’s market valuation is at $6.42 billion, making it the sixteenth-largest cryptocurrency by this metric.
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