DeFi Transaction Volumes in Tron rise 26X in Q3 2020
In Q3, DeFi transaction volumes in Tron rose 26X as TRX prices rallied, adding 64 percent from Q2 close according to a DappRadar report. Most were captured by three of the network’s leading DeFi platforms including the Sun, Just, and JustSwap.
DeFi is the force behind Ethereum. However, the rising transaction fees are forcing operators to reconsider their base layer. Tron is emerging as a preferred destination. As such DeFi protocols including JustSwap are drawing decent trading volumes as the Justin Sun-led platform boasts of a high throughput and negligibly low transaction fees.
Impact on the TRX price:
Bullish. Coinciding with the rise of DeFi in Tron, TRX prices rose 64 percent from Q2. If Tron-based DeFi dApps gain traction, odds of a moon-sling to above key resistance levels will be inevitable.