Tron is on the up with network TVL at an all-time high.
With Bitcoin and altcoins on the move this month, Tron DAO took to Twitter to announce that Tron’s DeFi TVL has crossed $18.5 billion.
Total value locked, often shortened to TVL, is the total value of all assets on a decentralized protocol, relating to activity that is done on the network.
Activities that contribute to decentralized protocols TVL include insurance, staking contracts, lending, and borrowing. It’s all cryptocurrencies on a network that are involved in some sort of defi activity.
In Tron’s case, $18.5 billion in financial assets are flowing through Tron’s total network. Over the past year, Tron’s native TRX token has climbed 52.7% and 8.3% over the past 2 weeks.
With Bitcoin on the way up, speculators believe a bull market is right around the corner. For many investors, Tron’s TRX token will be one to watch as it is currently ranked 11th out of the top 20 most popular cryptocurrencies on the market, going by market capitalization.