TRON (TRX)the third largest blockchain among decentralized finance (DeFi) protocols by total value locked (TVL).
Currently standing behind Binance Chain (BSC), TRON is ranked fourth, fifth, and sixth, respectively. Avalanche, Solana and polygon outperformed other projects such as
TRON Ecosystem Becomes Third Largest DeFi Project
Eight projects on TRON have a locked value of over $4.29 billion, according to data from analytics platform DeFi Llama. Including staked management assets, the total value locked in the TRON ecosystem is just over $4.3 billion.
The JustLend (JST) platform has a 42.06% dominance with a total value of $1.81 billion. SUNSwap and SUN.io currently account for $979.8 million and $246.97 million of the total locked value in the TRON ecosystem.
With the Explosion of the UST Altcoin, the LUNA Ecosystem Has Been Wiped from the DeFi World
Ethereum DeFi holds the throne with $50.05 billion, followed by BSC (BNB), which currently has a total locked value of $7.19 billion. Terra, which was previously ranked second in terms of TVL, dropped to 33rd after the ecosystem collapse.
of TerraUSD In the two weeks since (UST) lost its peg to $1, billions of dollars have moved from the Terra ecosystem, resulting in significant investor losses.
Funds held in decentralized finance (DeFi) applications built on Terra have dropped from more than $29 billion at the start of the month to $122 million in total locked value at the time of this writing.
DeFi projects rely on smart contracts rather than intermediaries for financial services such as lending, trading and borrowing. Total value locked in (TVL) refers to the total value of crypto assets invested in a decentralized finance (DeFi) protocol. It also represents the current value of cryptocurrencies invested in a crypto liquidity pool. This metric is used to measure the overall health of the DeFi and yield market.
*Not investment advice.