DeFi

TRON

Simply

Billion

<ul class="list-ic vertical">
 <li><span>1</span> <a>Tron Price and volume bounce back from the bottom levels, showcasing bullishness.</a></li>
 <li><span>2</span> <a>TRON DeFi Ecosystem breached $21.7 Billion of TVL on May 10, 2024.</a></li>
</ul>
<p><strong>Tron’s DeFi ecosystem</strong> has achieved a significant milestone by surpassing a TVL of $21.7 Billion, with Simply Cryptos and JustLend DAO leading the way.&nbsp;</p>
<p>However, TRX’s worth is facing a short-term bearish pattern. Just Cryptos has the highest TVL of $7.1 Billion, followed closely by JustLend DAO with $6.4 Billion. The TVL of these projects has shown positive growth over the last few days, indicating active trading and investment activity.</p>
<p>Total value lock(TVL) is a metric used to identify the value of a digital currency locked or staked on the <a href="https://www.thecoinrepublic.com/2024/03/30/why-could-your-favorite-defi-platform-be-the-next-target/" target="_blank" rel="noopener noreferrer nofollow">DeFi platform</a> or application.&nbsp;A high TVL for<strong> TRON indicates </strong>healthy liquidity, with more capital locked in its smart contracts.</p>
<h2 class="wp-block-heading" id="strong-tron-crypto-price-volume-analysis-bounce-back-from-bottom-strong"><strong>TRON Crypto Price &amp; Volume Analysis Bounce Back From Bottom</strong></h2>
<p>The volume and price graph displayed that the trading volume has increased in the last few days, and the price has also risen.&nbsp;</p> <iframe loading="lazy" title="Santiment Chart: Price (TRX), Volume (TRX)" width="1170" height="425" src="https://embed.santiment.net/chart?ps=tron&amp;pt=TRX&amp;df=2024-01-06T00%3A00%3A00.000Z&amp;dt=2024-05-09T18%3A29%3A59.273Z&amp;emcg=1&amp;emhwm=1&amp;wm=price_usd%3Bvolume_usd&amp;wax=0%3B1&amp;wc=%2326C953%3B%23D2D6E7&amp;ws=%7B%22interval%22%3A%221d%22%2C%22node%22%3A%22candle%22%7D%3B" scrolling="no"></iframe>
<p>Over the past three weeks, the price of TRON has risen from $0.107 to $0.127, indicating that buyers are accumulating TRX at low levels.&nbsp;</p>
<p>Additionally, trading volume has significantly increased in recent days. Therefore, it is anticipated that the price of TRON will continue to grow in the long run.</p>
<h3 class="wp-block-heading" id="strong-tron-crypto-social-dominance-and-social-volume-analysis-strong"><strong>TRON Crypto Social Dominance and Social Volume Analysis</strong></h3>
<p>According to the graph displaying<strong> social dominance </strong>and social volume, there has been a consistent increase in both metrics over the past few days. It resulted in a positive impact on the price of TRON.</p>
<p>Moreover, the momentum of TRON’s price may be influenced by changes in social dominance and volume dominance.&nbsp;</p> <iframe loading="lazy" title="Santiment Chart: Social Dominance (TRX), Social Volume (TRX)" width="1170" height="425" src="https://embed.santiment.net/chart?ps=tron&amp;pt=TRX&amp;df=2024-01-06T00%3A00%3A00.000Z&amp;dt=2024-05-09T18%3A29%3A59.273Z&amp;emcg=1&amp;emhwm=1&amp;wm=social_dominance_total%3Bsocial_volume_total&amp;wax=0%3B1&amp;wc=%23FF5B5B%3B%2368DBF4&amp;ws=%7B%22interval%22%3A%221d%22%7D%3B%7B%22interval%22%3A%221d%22%7D" scrolling="no"></iframe>
<p>Social dominance is a metric that indicates how much of the overall conversation is related to a specific cryptocurrency, such as TRON, compared to other crypto discussions. Conversely, social volume measures the frequency with which people mention “TRON” in their conversations.</p>
<h3 class="wp-block-heading" id="strong-tron-price-is-uptrend-will-it-reach-0-200-levels-in-2024-strong"><strong>TRON Price is Uptrend: Will It Reach $0.200 Levels In 2024?</strong></h3>
<p>The<strong> TRON cryptocurrency</strong> has seen a significant increase in price from its lower support levels. This is due to the price breaking above a major trendline, resulting in a surge in price to the upper resistance.&nbsp;</p>
<p>The TRX token price has been showing an uptrend, forming multiple higher-high swings and continuing its bullish rally. It reflects the stability and trust of the TRON community in this project.</p>
<p>As of now, the TRON crypto (TRX) price is trading at $0.12731546 with a 0.27% intraday drop. Despite this small dip, the charts indicate bullishness.&nbsp;</p>
<p>TRX has had a monthly return of 7.35% and a yearly return of 18%, with a market cap of $11.14 Billion. Analysts are bullish and suggest that the TRX price will reach higher levels in upcoming sessions.</p>
<p>Support for the TRON crypto price may be found at $0.12055349 and $0.11311939, where it could potentially bounce back or stabilize. On the other hand, the TRX crypto price may face resistance at $0.14076094 and $0.13382581, where it could reverse or consolidate. Moreover, if the tron continues its upward momentum, it could reach the level of $0.200.</p>
<h4 class="wp-block-heading"><strong>Summary&nbsp;</strong></h4>
<p>Tron’s DeFi ecosystem has surpassed $21.7 Billion of TVL, with Just Cryptos and JustLend DAO leading the way. However, TRX’s worth is facing a short-term bearish pattern.&nbsp;</p>
<p>According to the graph displaying social dominance and social volume, there has been a consistent increase in both metrics over the past few days. That resulted in a positive impact on the price of digital assets. Despite this small dip, the charts indicate bullishness.</p>
<h5 class="wp-block-heading"><strong>Disclaimer</strong></h5>
<p>This article is for informational purposes only and does not provide any financial, investment, or other advice. The author or any people mentioned in this article are not responsible for any financial loss that may occur from investing in or trading. Please do your research before making any financial decisions.</p>

TRON DeFi Ecosystem Surpasses $21.7B TVL: Will TRX Price Do Same?

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Thecoinrepublic.com

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