This Altcoin Overthrows Binance Smart Chain: Now Just Behind Ethereum!

The world of decentralized finance (DeFi) has witnessed some significant changes in recent weeks and one of the most notable changes Tron (TRX) altcoin In terms of total value (TVL) locked in its network, it has risen.

Tron (TRX) Altcoin Network Outpaces Binance Smart Chain in Total Locked Value (TVL)

According to a recent tweet from Tron DAO, the Tron network has surpassed Binance Smart Chain (BSC) as the second largest blockchain in terms of TVL.

This is a significant achievement for Tron as BSC was previously the second largest blockchain in terms of TVL. However, BSC experienced a 19% drop in TVL within a month, allowing Tron to pass it.

🔥#TVL front #TRON recorded impressive growth, positioning the #TRON network as the blockchain with the second-largest TVL worldwide. https://t.co/J8Nz3WPXvq

— TRON DAO (@trondao) January 4, 2023

Tron DAO celebrated the news on Twitter and said, “#TVL on #TRON has recorded impressive growth, positioning the #TRON network as the blockchain with the second largest TVL worldwide.”

TVL is an important metric in the DeFi space as it reflects the total amount of value locked into smart contracts on a given blockchain. It is a way of measuring the adoption and growth of DeFi protocols and platforms, and a higher TVL generally indicates a more active and successful ecosystem.

Ethereum While it remains the largest blockchain in terms of TVL, the rise of Tron is certainly notable. Tron has made significant strides in the DeFi space in recent months, and its success for TVL is an example of its growing popularity and adoption.

It will be interesting to see how Tron’s TVL changes in the coming months and whether it can continue to challenge Ethereum’s dominance in the DeFi space.

*Not investment advice.