This website uses cookies to ensure you get the best experience on our website

Blog

Date:
06th Oct 2020
Author:
CryptoAltum Research Team

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.


Details: 

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.


Risk Disclosure: Trading cryptocurrencies or any other financial instrument involves a significant level of risk and may result in a total loss of your investment. You should consider carefully whether investing in Bitcoin or any other instrument offered by CryptoAltum is appropriate to your financial situation. CryptoAltum only accepts deposits in Cryptocurrencies. By trading with CryptoAltum you acknowledge your understanding of this risk disclosure and your agreement with the Terms and Conditions.

This website is not directed at any jurisdiction and is not intended for any use that would be contrary to local law or regulation.

CryptoAltum does not accept any clients under the age of 18. 
  • Copyright Techcraft Ltd (CryptoAltum) 2020