Tron (TRX) Overtakes Shiba Inu (SHIB) As the 14th Largest Cryptocurrency

  • TRON has been up 3.25% in the last 24 hours.
  • The current value of TRON’s TVL is $5.34 billion.

TRON (TRX) is presently valued more than Shiba Inu (SHIB), according to CMC. With a market capitalization of $7.4 billion, TRON has overtaken Shiba Inu as the 14th-largest cryptocurrency. TRON’s algorithmic stablecoin, USDD, has continued to gain traction since its inception.

Keeping the trend going, TRON has been continuously burning TRX tokens. According to a Twitter post, over 5.8 billion TRX tokens worth $462 million have been destroyed. It’s only been about a month since the newly created stablecoin USDD—which uses the same algorithm as Terra’s UST—achieved market capitalization rankings among the top 100 coins.

Significant Increase in Total Value Locked (TVL)

According to DefiLlama, the TRON blockchain has moved into the top three chains. Over the last 24 hours, its Total Value Locked (TVL) has risen by 22.37 percent. The current value of TRON’s TVL is $5.34 billion.

Following the introduction of Just Lend and, TRON saw a significant increase in its TVL. The USDT, USDJ, TUSD, USDC, and USDD stablecoins provide a solid foundation for the TRON ecosystem. Since the beginning of the week, the value of TRON has risen by 10.23 percent. Decentralized Web3 infrastructure Ankr has announced a cooperation with TRON to let TRON developers build scalable and secure decentralized applications (Dapps).

In order to link their wallet or Dapp to the TRON blockchain, users may utilize Ankr’s TRON RPCs. There are plans for it to serve as a messenger or blockchain router to exchange on-chain information between nodes, Dapps, and, eventually, the end-users themselves. According to CMC, the TRON price today is $0.078382 USD with a 24-hour trading volume of $1,052,420,767 USD. TRON has been up 3.25% in the last 24 hours.

A devoted content writer having 3 years of crypto trading experience. Loves cooking and swimming. Stays up to date with the latest developments on blockchain technology.