Tron is now the second largest blockchain by TVL

Tron, currently the second-largest blockchain in terms of total value locked, behind only Ethereum, according to Defilama data, is flourishing in its DeFi ecosystem.

TRON TVL is higher than BSC

tron is now more tvl BSC, Polygon, Solana, and Avalanche have recently added BUSD, Binance’s stablecoin to their networks, compared to TRON.

Tron now has TVL $4.15 billion (10.7%) slightly ahead of bnb $4.08 billion (10.52%), Although negligible, the margin is noticeable. Tron maintains its TVL level bnb of chain slight decline Helped me move forward. For almost the whole of 2022, BNB chain remained stable behind Ethereum,

Ethereum is still the largest blockchain by TVL at $23.07B or 59.53% of the entire market. In fourth place, is Arbitrum at $1.02B (2.64%), followed by Polygon Network at around $995M (2.57%).

Tron’s high TVL ranking could be due to the strong demand for the network. Additionally, this could result in a long-term increase in TRX demand and favorable attitude towards the network.

DeFi TVL is declining

Total Value Lock (TVL) Decentralized finance (DeFi) protocols have taken a hit along with the harsh crypto winter, according to data provided by DeFi Llama. Since December 2021, total DeFi TVL has declined by 78.1%, from an all-time high (ATH) of $181.2 billion to around $39.4 billion at the time of writing.

Reflectingly, Binance Smart Chain (BSC) TVL declined sharply and hit a 19-month low.

At the time of writing, the total market capitalization of BSC is down 0.15% in the last 24 hours and 19% in a month, according to tracker data. pancake swap BSC is the major shareholder in TVL with approximately 53% shares owned and valued at $2.16 billion, down 14.3% over the last 30 days.

What is TVL?

Today, as in 2022, the Total Value Locked (TVL) of the DeFi sector is still dominated by Tron, BSC, and Ethereum. The TVL of a protocol helps us understand the value of each DeFi protocol. The TVL figure for the DeFi industry comes closest to total market size. The transaction volumes of NFTs for various segments reflect the erratic nature of advances in this nascent market.

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