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TRON (TRX) TVL Accelerates To Nearly $2 Billion Last Month

Jet Encila - NewsBTC
2022-08-08 04:23
TRON (TRX) continues to gain traction despite the current erratic market movement. TRX has recently seen TVL growth by $6 billion in July which is by far due to a revival of investor interest specifically in DeFi.
TRON has been the most-supported DeFi smart contracts seen in the past two years. In fact, blockchain has accelerated by 49% in terms of TVL as observed in July. In fact, July growth was exponential as TRON’s TVL was seen to surge from $3.95 billion on July 1 to $5.91 billion at the end of July.
TRON was establish in 2017 by Founder Justin Sun. TRX is seen to be a highly-acclaimed project that is profound in terms of scalability. This protocol is ambitious and designed in creating a specialized infrastructure for a completely decentralized type of internet.

TRON: More TVL Than Polygon, Solana, Avalanche

TRON was originally an ERC20 token built in Ethereum’s ecosystem. However, due to issues with scalability that is linked to Ethereum’s overtly expensive gas fees, TRON announced that they would be moving forward with a new peer-to-peer network in 2018.
TRON TVL increased in July because of the increase of dApps in the ecosystem. In fact, JustLend, a DeFi, increased by as much as 19% the previous. More so, JustStables (USDJ) also soared to more than 2% following the same period. In addition, decentralized exchanges that include UniFi and SocialSwap also spiked by a whopping 550% and 6%; respectively.
TRON is said to have more TVL compared to Polygon, Solana, and Avalanche. TRX is said to have moved to the third spot following Ethereum and Binance Smart Chain.

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