As USDD’s algorithmic stablecoin catches speed, TRON TVL soars to $6 billion

Despite USDD algorithmic stablecoin’s market cap exceeding $600 million, Tron’s total value locked (TVL) reaches $6B.

  • Tron’s algorithmic stablecoin – USDD – is gaining steam as its market cap exceeds $600 million. This has also been a major factor in the increasing value of DeFi protocols on the network.
  • It appears that another alternative to Terra’s algorithmic stablecoin is also catching on, despite Terra’s UST algorithmic stablecoin’s failure.
  • Tron’s USDD is also gaining traction, despite being very far from UST’s former market cap.
  • According to CoinGecko, USDD has achieved a market capitalization of over $600 million since its launch at the beginning of May.
  • Additionally, this has helped boost Tron’s DeFi ecosystem, as the total value of the various protocols lying within the network approaches $6 billion.
  • In the image above, you can see how Tron’s TVL has surpassed Avalanche, Solana, and Polygon and is now the third-largest chain behind Ethereum and Bitcoin (based on that measurement).
  • As a result, JustLend (JST) is the protocol that has the most value locked up in it. Additionally, there are nine protocols dominating in terms of TVL.