TRON (TRX), the native token of the TRON blockchain, has taken a significant step towards expanding its accessibility by integrating with the Ethereum ecosystem.
In a tweet, Justin Sun, the founder of TRON, announced that TRX is now fully accessible within Ethereum, leveraging the power of BitTorrent Bridge. This move aims to enhance liquidity and open up new possibilities for TRON users in the Ethereum network.
TRX’s Growing Prominence:
TRON’s native token, TRX, currently holds the 12th position among the top 100 cryptocurrencies according to CoinMarketCap.
With a market capitalization exceeding $8 billion and a daily trading volume surpassing $162 million, TRX continues to establish itself as a significant player in the crypto market. The announcement made by Sun led to a 2% increase in TRX’s price, indicating a positive market response.
Tron’s Influence in DeFi:
TRON has also made its mark in the decentralized finance (DeFi) sector, with notable achievements in terms of total value locked (TVL) and stablecoin utilization.
TRON ranks second in TVL, boasting $5.6 billion, and has over $45 billion in stablecoins. Only Ethereum, with $27 billion in TVL and $69 billion in stables, surpasses TRON’s achievements in the DeFi arena, as highlighted by DeFiLlama.
Developer Activity and Ecosystem:
While TRON’s developer activity may appear moderate in comparison to leading networks like Ethereum and Binance Smart Chain (BSC), the platform still supports 22 protocols.
Among these, JustLend dominates the TRON ecosystem, contributing to over half of TRON’s TVL. As TRON expands to Ethereum, developers and users alike can explore new opportunities and contribute to the growth of the TRX ecosystem.
