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HomeNewsTron’s Simply Cryptos and JustLend DAO Lead in TVL Growth

Tron’s Simply Cryptos and JustLend DAO Lead in TVL Growth

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  • Social dominance and volume data show Tron maintaining a consistent upward trend, influencing its price positively.
  • Analysts predict TRX could reach $0.200 if support levels hold steady and trading volume continues increasing.

Tron’s DeFi ecosystem now has a total value locked (TVL) of $21.7 billion. Simply Cryptos and JustLend DAO lead the growth, indicating an active and engaged user base. The TVL, which measures the amount of digital currency staked within the DeFi platform, shows robust liquidity and activity in Tron’s smart contracts.

TRX, the native token of Tron, currently faces a short-term decline in value. Simply Cryptos holds a TVL of $7.1 billion, while JustLend DAO has $6.4 billion. The recent TVL increase reflects a positive growth trend for these platforms.

Analyzing Tron’s trading volume and price reveals recent gains in both. Over the last three weeks, TRX’s value has risen from $0.107 to $0.127, indicating that buyers are purchasing the token at lower prices. This rise in trading volume points to potential long-term growth.

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Currently, TRX trades at $0.12731546, with a slight 0.27% daily drop. Despite this, the market trends suggest an optimistic outlook.

TRX_All_graph_coinmarketcap

The token has a monthly return of 7.35% and an annual return of 18%, with a market cap of $11.14 billion. Analysts remain optimistic, predicting future price growth.

TRXUSDT_2024-05-11_11-36-40

Support levels for TRX are $0.12055349 and $0.11311939, potential points for stabilization or a rebound. Resistance levels are $0.14076094 and $0.13382581, where price consolidation or reversal might occur. If the upward trend continues, TRX could reach the $0.200 mark.

TRXUSDT_2024-05-11_11-41-23

This analysis provides a clear picture of Tron’s growth in DeFi and outlines the current challenges and future opportunities within the trading market.

The current price of TRON (TRX) is approximately $0.1263 USD. Based on technical analysis and market trends, it is noted that TRON has shown a slight increase in price recently. However, volatility remains a considerable factor.

I anticipate that the price of TRX could experience moderate fluctuations in the short term, but is expected to remain in a range between $0.12 and $0.14 USD in the coming weeks.

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Isai Alexei
Isai Alexei
As a content creator, Isai Alexei holds a degree in Marketing, providing a solid foundation for the exploration of technology and finance. Isai's journey into the crypto space began during academic years, where the transformative potential of blockchain technology was initially grasped. Intrigued, Isai delved deeper, ultimately making the inaugural cryptocurrency investment in Bitcoin. Witnessing the evolution of the crypto landscape has been both exciting and educational. Ethereum, with its smart contract capabilities, stands out as Isai's favorite, reflecting a genuine enthusiasm for cutting-edge web3 technologies. Business Email: info@ethnews.com Phone: +49 160 92211628
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