In terms of total value locked, DefiLlama data shows that TRON is presently the third biggest blockchain, following only Ethereum and the BSC (BNB). As of this writing, TRON has a total value locked of $5.8 billion, which is close to the $6.9 billion TVL of the Binance Chain.
With a gain of 41.33 percent each month, TRON is the only blockchain in the top 20 to show increases. It has also risen by 33.23 percent in the previous week. Since last month, the DeFi industry as a whole has lost roughly $90 billion in liquidity, with the value of the most famous blockchains locked down by 30 to 70 percent as a consequence of Terra’s collapse. When it comes to TVL, Tron is presently outperforming other notable Layer 1 networks, such as Avalanche and Solana.
USDD stablecoin from TRON
The new algorithmic stablecoin, USDD, has helped boost the value of TRON’s TVL. US dollar supply has hit 600 million in the first month, according to the official USD Twitter account, which declared this on May 28th. TRON’s inventor, Justin Sun, has hinted at big news for USDD in the next week, after the recent surge in the cryptocurrency’s value.
Because of UST’s popularity in the crypto market before the Terra issue, more players began looking towards stablecoins. Upon its launch on May 5, TRON’s USDD stablecoin grabbed industry interest.
In order to maintain the stablecoin’s price near to that of the US dollar, arbitrageurs will be rewarded for trading between TRX (TRON’s token) and USDD (USD’s stablecoin counterpart).
A market value of $603 million ranks USDD at the bottom of CoinMarketCap’s list of the top 100 most valuable cryptocurrencies. In contrast, after the collapse of Terra UST, authorities are still thinking about stablecoins.