Tron's Ecosystem Expanding, its DeFi dApps Manage Over $10.1 Billion of Assets
There is no doubt that there is a direct link and correlation between the price of a public ledger's coin and its activity density.
There are valuable metrics to be drawn from the rapid expansion of ETH to all-time highs in the latest bull cycle with the rise of DeFi and NFTs from 2020 to the present. The same was experienced in the 2017 rally when ETH rose to $1.4k due to upswing pressures arising from ICO demand.
Extending from the latter, the same can be drawn as precursors of what might happen to TRX prices in the short to medium term.
CryptoRank, a blockchain analytics platform, now reveals that Tron's DeFi TVL is now above $10.1 billion, more than double what it was a few months ago. Based on this, it is easier for traders to predict better prices for TRX in the days ahead.
If DeFi activity increases, surpassing expectations, the demand for TRX—the platform's native currency and 'fuel' will rise. It is a development that would aid TRX in soaking up the selling pressure of the last few days.
Besides DeFi, Tron is better known as the host of blockchain games. These dApps take advantage of Tron's growing ecosystem and near-zero trading fees, a lifeline for games where dust fees keep these protocols afloat.
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