Tron Now Third-Largest DeFi Blockchain After $USDD Algorithmic Stablecoin Launch

Statistics for the Tron blockchain quickly saw a sharp rise following the public release of $USDD, the project’s new algorithmic stablecoin. The Tron blockchain now ranks as the third-largest blockchain in terms of total value locked (TVL).

This ranking follows two other popular chains: Binance’s BNB Chain, and Ethereum. BNB Chain has roughly $8.8 billion in TVL at a 7.95% share, while Ethereum has $71.22 billion at a 64.27% dominance by TVL. The month-to-date change for Tron reflects +41.68%, with a +13.30% change over the past week.

While the entire crypto space is currently on a bear cycle, these bullish indicators from Tron have primarily been a result of the launch of $USDD (token name: Decentralized USD), its new algorithmic stablecoin which promises 20% APY. From Ethereum, Polygon, …

Source : cryptodaily.co.uk

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