TRON Blockchain’s Daily Trading Volume Jump Over 500%, DeFi TVL Surpasses $8bln July 9, 2021 July 9, 2021 Kelly Cromley http://1AZFjzw2#Nwf63pYaMWq#xIY
Bitcoin NewsJuly 9, 2021 by Kelly Cromley

TRON Blockchain’s Daily Trading Volume Jump Over 500%, DeFi TVL Surpasses $8bln

In the past few weeks, the TRON blockchain platform has shown indications of progress, achieving significant landmark. The number of daily trades on the TRON blockchain has increased by 500% in the past year.

The blockchain is currently conducting over 9 million transactions each day, according to TRON’s in-house data-tracking site

According to the CryptoRank platform, “The overall daily trades for TronFoundation TRX have surpassed 9 million, establishing a fresh all-time peak of $9.27 million. In the last year alone, this rate has increased by 522%.”

This meteoric surge reflects TRON’s burgeoning prominence in the crypto world. TRON co-founder Justin Sun took the next assignment, claiming that the blockchain will soon be handling 10 million trades per day. Aside from the enormous increase in daily trades, the count of distinct addresses has also increased dramatically.

Tronscan research shows that the blockchain network currently has over 45 million addresses. As shown in the graph below, the number of distinct addresses has grown at a ‘parabolic rate.’

TRON’s DeFi network has experienced rapid expansion, with the total value locked (TVL) exceeding $8 billion in the week endee July 4. Nevertheless, according to Tronscan statistics, it has decreased slightly since then and presently stands at $7.4 billion.

The Tron ecosystem’s monitoring for DeFi TVL went online earlier in July. Justin Sun, the founder of Tron, made the revelation personally. TRON’s blockchain network has already been supporting many stablecoins and is still growing. With a liquidity of $32 billion, Tether’s USDT continues to lead its rivals.

“TRON is recognized to have numerous successful examples of #stablecoin issuance, with TRC20-USDT being the most generally recognized case; the constant rise of #TRC20–#USDT circulating supply and distinct addresses are enough proof of the need for stablecoins,” says Justin Sun, the creator of TRON.

Circle’s USDC stablecoin, on the contrary, has seen substantial growth. The circulating quantity of USDC on TRON has surpassed 108 million within a month. As a result of its cheap transaction cost, TRON is becoming a common pick among dealers.

AuthorKelly Cromley

Kelly is our in house crytpto researcher, delving into the stories which matter from blockchains being used in the real world to new ico coming out.