Tron News :: Tron's TVL Is Growing

A burnt 17,506,608 TRX and minus 12,439,217 TRX mined saw TVL Tron skyrocket.

Over the past few months, the total value of the Tron (TVL) blockchain has risen phenomenally, outpacing all other major chains except Ethereum (ETH).

In other words, in the first six months of 2023, Tron ranked second in TVL, ahead of the Ethereum blockchain. Such performance was achieved in part due to the fact that Tron has attracted sufficient liquidity.

It is also worth noting that Tron burned 17,506,608 TRX, according to a post by the Tron community on Twitter.

https://twitter.com/TronixTrx/status/1681454716289712128.s=20

This event, which took place on Monday, July 18, showed Tron’s determination to cut the distribution’s supply as a whole: The TRX burn resulted in a net negative mining figure of -12,439,217.

TVL Tron has reached a new high and its market capitalization has increased by another $1 billion.

TVL Tron has reached $5.694M at the time of writing, according to DeFiLlama. This is considered a significant improvement from last year's low of just over $4B, but at the same time it is still far from the $6B peak. reached in November 2021.

This growth appears to be driven by an increase in the number of users. In July 2021, the number of online users crossed the one million mark for the first time, and two years later, their number exceeded two million and approached three million.

Notably, other growth metrics have also been linked to the Tron TVL breakthrough: less than two weeks ago, Tron’s own data monitoring platform Tronscan showed that the blockchain is processing more than nine million transactions per day.

Even Justin Sun, the CEO of the Tron ecosystem, predicted that the blockchain will soon start processing 10 million transactions per day.

In addition, the number of unique addresses in Tron has skyrocketed, and now the blockchain has more than 45 million addresses.

All these positive changes had a decisive impact on TRX as well. The market capitalization of the token rose by almost $1 billion from a four-week low to a monthly high of more than $7.3 billion.

Ripple’s recent victory over the US Securities and Exchange Commission (SEC) gave a big impetus to the development of the Tron ecosystem, like many other protocols.

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