Tron’s TVL hits a new record of $36.2 billion

Amid a broader market resurgence, the Tron blockchain has seen impressive strength. In fact, the total value locked (TVL) on the blockchain increased to $36.2 billion on December 4th.

This number marked a new all-time high for the network, demonstrating growing appeal among decentralized finance (DeFi) users. The achievement reflects the growing adoption of Tron’s infrastructure for DeFi applications, stablecoin transactions and smart contract functionality.

New peak for TRX

The latest development comes as Tron’s TRX token hit a record price of $0.44 this week, snapping a seven-year streak and marking a major milestone for the network. Although it has since dropped to $0.33, the token still held on with weekly gains of 66% as it eventually reclaimed the 10th spot by market capitalization.

Several factors are driving this rise, including speculation about the possible inclusion of TRX in Grayscale’s portfolio of investment assets. Grayscale previously announced TRX as one of 35 tokens being evaluated, with quarterly updates expected, fueling optimism for institutional support.

Beyond that, Tron founder Justin Sun has also been instrumental in amplifying interest. Sun recently spent $30 million on WLFI tokens associated with Donald Trump’s initiative called “World Liberty Financial” and even took on an advisory position. In addition, his involvement with the “Comedian” concept artwork has spurred community involvement, with ripple effects increasing the activity of related tokens such as BAN.

Stablecoin ecosystem on the Tron network

Meanwhile, Messari’s recent report revealed that Tron’s stablecoin market capitalization has seen a steady upward trajectory over the past year, and the third quarter continued that momentum. During the quarter, market capitalization rose 3% quarter-on-quarter, from $58.02 billion to $59.97 billion. That number currently stands at just over $60 billion, according to DeFiLlama.

USDT continued to dominate the stablecoin landscape on Tron, holding a steady 98% market share. Other stablecoins also showed growth in the third quarter. USDD, Tron’s second-largest stablecoin, was up marginally by 0.11% quarter-on-quarter, from $729.9 million to $730.6 million.

Notably, TUSD experienced the largest percentage growth, increasing 87% quarter-on-quarter, from $89.1 million to $166.6 million. USDJ rounded out the top four, rising 4% over the same period, concluding the third quarter with $70.7 million.

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