- The Tron network is now number 2 in the TVL rankings. So, this makes it better than BSC, Avalanche, and many others.
- Partnerships such as those with Curved Finance helped it get to this level.
Over the past few years, the Tron Network saw massive growth in different aspects. Despite the bear market, the blockchain is still trying to keep up with many metrics. The most glaring is the recent growth in TVL rankings.
The Tron Network Enters Number 2 In TVL Rankings
- The Tron Network is a crypto project determined to reach new levels. Apparently, within a period of one year. The project saw some remarkable increases in the market capitalization and the TVL rankings. Some years back, many crypto projects like the Binance Smart Chain, Solana, and Polygon were ahead of the Tron Network. So, this is not the case now after an impressive run in the TVL rankings.
- At the time of writing, Tron is currently at number 2 with more than $5 billion worth of total value locked (TVL). One of the things to note about this is the gap Tron Network is giving other protocols. So, the number 3rd blockchain here is the BSC. But Tron has close to a $3 billion gap between it and the BSC. At press time, the BSC is at $2.92 in TVL.
- Many other networks follow suit in these rankings. Apparently, the ever-dazzling Arbitrum is among the top 5 of this ranking with close to $2 billion of TVL. Polygon follows suit with close to $1 billion of TVL. However, in the top 10 TVL rankings, Optimism, Avalanche, Mixin, Solana, and Cronos make the list.
How Did The Tron Network Reach this Milestone?
- The Tron Network didn’t only reach the top 10 of TVL rankings; it is in the top 2, and the difference is quite huge. However, this network’s step-by-step process took it to this level. The Tron Network entered into quite a number of partnerships, helping increase the value of TVL in the protocol. So, one can say this strategic partnership is the first reason.
- Tron’s recent partnership with decentralized exchange Curve Finance stands out from the other blockchains. Apparently, the partnership with Curved Finance helped increase the influx of TVL on the platform. Also, the competitors of the Tron Network, such as the BSC, encountered issues. BSC had accusations of housing many scam projects. Furthermore, there were also accusations of making Bitcoin trades to increase BNB’s price. While all these aren’t confirmed, it had a negative impact on BSC’s TVL.
Conclusion
Many things are going well for the Tron Network. The main native currency might not perform well in the market. However, the main network is having a wild run in terms of increase in many metrics. Not only is the market cap above many cryptocurrencies, the TVL is now second only to Ethereum. Apparently, this shows a massive amount of growth on the platform. But, data shows several partnerships made this possible.
