A look into Tron’s latest achievements as TRX attempts a bounce

August 24, 2023

By Michael Nderitu

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• Tron experienced some TVL outflows but still managed to secure the second position by locked stake.

• TRX managed to hold its long-term support despite last week’s crash.

The growing diversity of the blockchain space has paved the way for intense competition. The Tron [TRX] network has been among the dominant players and a recent highlight points to one of the ways that it was winning.

The Tron blockchain has been outshining almost all of its competition in terms of TVL growth. It currently has the second highest total value locked, trailing behind the Ethereum network. We previously looked into how stablecoins have contributed to the network’s growth but more importantly, robust user growth has also been a key driving factor.

The network reportedly averaged over 1.1 million daily active users in the last four weeks. While this contributed to healthy TVL, it does not necessarily mean that the TVL has been on a steady upside. Its total value locked recently clocked in at $5.24 billion. A substantial dip from the $5.85 billion 4-week TVL high achieved at the end of July.

The slight TVL outflows are a reflection of the recent crypto liquidity outflows as market confidence dipped. This means that market conditions have a clear impact on TVL health.

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