TRON TVL Reaches All-Time High and Becomes Largest Blockchain for USDT Settlement, TRX Price to be Boosted Again

On October 16th, the total value locked (TVL) in TRON reached a historical high of $6.648 billion, easily surpassing most major competitors. According to data, TRON's TVL hit a record high of $6.648 billion.

TVL refers to the overall value indicator of crypto assets deposited in decentralized finance (DeFi) protocols, and it is crucial in determining or measuring investor interest in specific areas of the cryptocurrency industry. 

Generally, higher TVL is considered an indication of a more trusted platform or application. Therefore, investors often pay attention to the TVL metric when evaluating the valuation of native tokens in DeFi projects.

TRON's Total Value Locked (TVL), source: DeFiLlama.

Moreover, DefiLlama also reported that TRON blockchain had over 1.44 million daily active users in the past 24 hours. Such a high number of users indicates that TRON has outperformed its peers, including BNB Chain (BNB), Ethereum (ETH), Polygon (MATIC), Solana (SOL), and Arbitrum, with respective numbers of 1.01 million, 336,000, 309,000, 101,000, and 75,000.

TRON has gained popularity due to its high throughput, scalability, and reliability as a solution, making it the largest blockchain for settling USDT, a stablecoin pegged to the US dollar, used for facilitating payments in the crypto world.

The success of TRON can be attributed to its dominant position in the stablecoin sector, approaching 40%, marking a growth of around 22%. Meanwhile, data from Token Terminal shows that Ethereum's dominance in the stablecoin market has decreased by approximately 30% to the current 52%.

Ethereum Daily Revenue and Active Users, source: Token Terminal.

This change has positioned TRON as the preferred platform in the stablecoin market and may lead to wider adoption in the crypto space. This surge could attract users, developers, and projects seeking a reliable and efficient stablecoin operating platform.

Furthermore, the revival of stablecoins on the TRON network has led to increased network activity and a significant surge in daily transaction volume. Additionally, the network's revenue has increased by 15%, further demonstrating the growing interest and usage of the TRON platform.

TRON Daily Revenue and Active Users, source: Token Terminal.

The growth of the TRON network has fueled bullish sentiment for its token, TRX, consistently setting higher highs and higher lows, indicating a sustained upward trend. It is anticipated that TRX may surpass $0.09 or even $0.12 in the second half of this year.

TRX/USDT 1-day price chart, source: TradingView.