Amid a broader market resurgence, the Tron blockchain has seen impressive strength. In fact, the total value locked (TVL) on the blockchain increased to $36.2 billion on December 4.
This figure marked a new all-time high for the network, demonstrating growing appeal among decentralized finance (DeFi) users. The achievement reflects the growing adoption of Tron’s infrastructure for DeFi applications, stablecoin transactions, and smart contract functionality.
New spike for TRX
The latest development comes as Tron’s TRX token hit a record price of $0.44 this week, breaking a seven-year streak and marking a major milestone for the network. Although it has since retreated to $0.33, the token still posted weekly gains of 66% and eventually regained 10th place by market capitalization.
Several factors are driving this rally, including speculation over the possible inclusion of TRX in Grayscale’s portfolio of investment assets. Grayscale previously announced TRX as one of 35 tokens being evaluated, with quarterly updates expected, fueling optimism about institutional support.
Beyond this, Tron founder Justin Sun has also played a pivotal role in amplifying interest. Sun recently spent $30 million on WLFI tokens associated with Donald Trump’s initiative called ‘World Liberty Financial’ and even took on an advisory position. Additionally, his participation in the concept artwork “Comedian” has spurred community engagement, with ripple effects driving the activity of related tokens such as BAN.
Stablecoin ecosystem on the Tron network
Meanwhile, Messari’s recent decision report revealed that the stablecoin market capitalization on Tron has seen a steady upward trajectory over the past year, and the third quarter maintained that momentum. During the quarter, market capitalization increased 3% quarter-on-quarter, from $58.02 billion to $59.97 billion. This figure currently is found to just over $60 billion, according to DeFiLlama.
USDT continued to dominate the stablecoin landscape on Tron, maintaining a steady 98% market share. Other stablecoins also showed growth in the third quarter. USDD, Tron’s second-largest stablecoin, rose marginally by 0.11% quarter-on-quarter, from $729.9 million to $730.6 million.
Notably, TUSD saw the largest percentage growth, increasing 87% quarter over quarter, from $89.1 million to $166.6 million. USDJ rounded out the top four, rising 4% over the same period, and concluded the third quarter at $70.7 million.
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