Tron Keeps Pulling Ahead Of BNB Chain For DeFi TVL, Osmosis and Arbitrum Move Up

Due to ongoing uneasy market conditions, there can be no DeFi TVL rebound as of yet. However, several chains note some prominent omentum, confirming decentralized finance remains of keen interest. Tron and Arbitrum are on the move again, and Osmosis tries to follow swiftly.

Tron DeFi TVL Keeps Rising

Many people assumed the decentralized finance momentum for Tron would be rather short-lived. The network overtook BNB Chain in overall TVL, which was unthinkable about a year ago. However, the Tron network has come a long way and continues to make inroads in DeFi. Despite the bearish momentum affecting all crypto markets, things are progressing nicely for this altcoin.

Thanks to another 4% gain in Total Value Locked this week, Tron continues to move ahead of BNB Chain in the rankings. More specifically, it now represents over $6 billion in Total Value Locked, whereas BNB Chain is stuck at just over $5.5 billion. Both values are more than respectable, but there is more work to do.

What remains impressive is how Tron is home to under a dozen DeFi protocols yet still managed to inch ahead of all networks that aren’t Ethereum. That shows quantity is subpar to quality in the decentralized finance world, as BNB Chain has over 440  protocols. However, most of them have little to no TVL to speak of, and things may not improve on that front either. 

It is worth noting JustLend and SocialSwap are the protocols on Tron noting growth this week. However, SUN, JustStables, and UniFi note pretty big setbacks. Overall, an exciting development, as lending remains the most prominent aspect of decentralized finance. It will be interesting to see where things head next for Tron and other networks.

Arbitrum And Osmosis Move Up

Two other networks noting some prominent DeFi momentum are Arbitrum and Osmosis. Those are not necessarily the names people would expect to see during these market conditions, but it confirms the versatility of decentralized finance. Sustaining any growth will always prove difficult for all networks, especially without bullish momentum for the native network currencies. 

Of the main networks, Cronos and Optimism note the biggest losses this week. However, the momentum doesn’t favor Ethereum, Avalanche, Polygon, or Solana either. It will be interesting to see if DeFi ever returns to over $200 billion in TVL. That seems very unlikely as remaining above $62 billion is more than challenging enough these days. 

None of the information on this website is investment or financial advice and does not necessarily reflect the views of CryptoMode or the author. CryptoMode is not responsible for any financial losses sustained by acting on information provided on this website by its authors or clients. Always conduct your research before making financial commitments, especially with third-party reviews, presales, and other opportunities.

JP Buntinx

JP Buntinx has been writing about cryptocurrency since 2012. His interest in crypto, blockchain, fintech, and finance allows him to cover a broad range of different topics.

Published by
JP Buntinx

Recent Posts

SEC Voices Concerns Over Hedge Funds Closing Deals Via WhatsApp

Conducting financial business can be done in various ways. In today’s modern era, using social…

3 hours ago

4 benefits to the Cardano ecosystem

Cardano (ADA) is a promising altcoin that has been making waves in the crypto community.…

4 hours ago

Crypto Investing Made Easy

Is it Hard to Start Investing in Cryptocurrencies? Many people who are unfamiliar with cryptocurrency…

5 hours ago

Boba Network Launch Can Enhance Uniswap’s Expansion Into Key Asian Countries

Some of Uniswap's community proposals go over way better than others. For example, a recent…

5 hours ago

Building Your Career in Crypto: What You Should Know

So, you want to build a career in cryptocurrency? You must be a bold, innovative,…

6 hours ago

Limit Break’s Upcoming Super Bowl Commercial Breaks the Paradigm for Online Gaming; Interactive Advertising

Company plans to give away thousands of NFTs (non-fungible tokens) to viewers, introducing massive audience…

6 hours ago