TRON blockchain has maintained its second spot since Jan, ahead of BSC by $100 million in the latest ranking compiled by leading data tracker coinmarketcap.
Ethereum dominated the chart with over $28 billion total value locked, followed by TRON with $4.9 billion and BNB in the third spot at $4.8 billion.
Even though negligible, the margin is still noticeable. Tron has kept its TVL level while BNB Chain’s slight decline has helped it advance.
Justin Sun-led network flipped BNB Chain, which had been steadily declining over the previous few months, on January 2-3. In November 2022, BNB Chain had more than $6 billion in TVL, whereas, in the previous two months, Tron’s TVL fluctuated between $4 and $5 billion.
Interestingly, Binance’s stablecoin, BUSD, has lately been incorporated into Tron. Just one week after integration, the pegged form of BUSD has topped $101 million in TVL.
TRX’s greater TVL ranking could be attributed to higher network demand. Furthermore, it might lead to a long-term rise in demand and a positive perception of the network.
While TRON dominates TVL, BNB continues to lead in terms of protocol count, trailing only Ethereum. According to Defillama statistics, the former is home to 17 protocols, while the latter houses 561.
The BNB Chain, formerly known as the Binance Smart Chain [BSC], is a blockchain-powered by Binance that is community-driven, decentralized, and censorship-resistant.
It is made up of the EVM-compatible BNB Beacon Chain and BNB Smart Chain, which support a multi-chain ecosystem.
Having said that, the digital asset industry was just recuperating from the collapse of the crypto trifecta banks when another top European bank waved the red flag.
TRON Founder Proposes Acquisition Deal
Switzerland-based On March 14, Credit Suisse released its annual report, where it acknowledged “material weaknesses” in internal controls over financial reporting.
The following day, Saudi National Bank, its largest backer, turned down to provide a bailout, resulting in a decline of over 25% in the bank’s share price.
All attempts at preventing investors and clients to pull out money from the bank failed. With the help of Swiss regulators, the UBS group inked a deal of $3.25 billion to pump liquidity into the beleaguered bank.
As reported by TronWeekly, the TRON founder proposed to acquire the bank for $1.5 billion.