Data also shows that Tron is somewhat of an authority in DeFi with the second-largest total value locked (TVL) worth $5.6 billion and over $45 billion in stablecoins. Only Ethereum $27 billion in TVL and $69 billion in stables ranks higher, DeFiLlama shows.
Developer activity on Tron seems to move at a modest pace compared to other top networks like Ethereum and Binance Smart Chain (BSC). 22 protocols run atop Tron’s network and JustLend dominates the TRX ecosystem accounting for over half of Tron’s TVL.
Sun Apes Into Memecoin
Justin Sun said he would trade memecoins and donate the profits to charity amid a frenzy led by tokens like Pepe, a memecoin inspired by the popular “Pepe The Frog”. At the time, fees on marquee networks like Bitcoin and Ethereum hit ATHs as speculative traders aped into these memecoins.
Though obviously risky, the trading trend may spotlight the gambling nature or “degenerate/degen” side of the crypto community.
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