The development of TRON network in the DeFi ecosystem
According to Defillama, TRON network continues to grow in the DeFi ecosystem and is currently the third-largest blockchain in terms of Total Value Locked (TVL). With a total value locked of $5.8 billion, TRON nears the Binance Chain’s TVL of $6.9 billion. TRON is the only blockchain among the top 20 recording gains, with a monthly gain of 41.33%. TRON’s TVL has increased in value in part thanks to the new algorithmic stablecoin, USDD.
The official USDD Twitter account announced on May 28 that the total supply of USDD reached 600 million in the first month of operation. Prior to Terra Crisis, the success of the UST spurred newcomers to explore stablecoins on the crypto market. TRON released the USDD stablecoin on May 5 and has since garnered industry attention.
According to CoinMarketCap data, USDD currently ranks 73rd in market capitalization with a market cap of $ 603 million. It should be noted that Stablecoin remains in the minds of regulators after the collapse of Terra UST.
Source: www.u.today
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