The crypto industry has regained the $1 trillion mark as markets have rebounded in recent days. In particular, the overall change in investor sentiment paved the way for the Tron ecosystem to record impressive performances.
Where the magic happens
TRON’s total transfer value hit a new record on August 1st after crossing the $5 trillion mark.
It also added 105 million new accounts and recorded over 3.6 billion transactions on its blockchain.
According to a tweet from Tron Scan, these indicators have made Tron “the second largest public chain from the stablecoin market and the Top3 largest public chain from TVL”.
In addition, TRON’s TVL has exceeded $11 billion. At press time, it stood at $11.38 billion after a slight drop on August 1. JustLend DAO continues to dominate TRON’s TVL with $3.56 billion locked into it.
It was followed by SUN.io, which had $2.14 billion at press time.
In another modernize from the ecosystem, SUN recently launched two new smart pools: the 2pool LP pool and the USDD-USDT LP pool. After launch, the highest APY of 2pool LP pool reached 392.12%, while for the latter it reached 584.2%.
TRON also launched two new partnerships to kick-start the growth of its ecosystem. On July 20, TRON announced a cooperation with WeFund focusing on getting more users into the dApp market.
It will also help TRON get more use cases for TRON based payments using the Tronlink Wallet. Other partnership with Mercuryo will enable the availability of USDC on TRON. This will help in fast and affordable USDC trading worldwide.
Where is TRX in all this?
Tron’s parent token TRX was trading at $0.06 at press time after falling 1.45% since August 1st. However, a rebound in trader optimism has pushed TRX up 5.62% on the week.
Volume on TRON has hit 10% since August 1st. Thus bringing the number down to $467.3 million. However, TRON’s downward trajectory was nothing new for its long-term investors.