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‘No One Uses Tron, Yet Remarkable TVL’; Says Crypto Analyst

source-logo  coinedition.com 29 April 2023 10:05, UTC

The crypto analyst Emperor Osmo shared a Twitter thread on April 28, commenting on the decentralized blockchain system Tron’s remarkable Total Value Locked (TVL). As the DeFi TVL aggregator DefiLlama issued the TVL of various blockchains, presenting Tron with more than $5 billion TVL, the crypto analyst shared his concern about the implausible reach.

Notably, TVL is the metric by which the total value of digital assets locked or staked in decentralized finance (DeFi) is evaluated. It is understood that a platform is perceived as more trustworthy if it owns a higher value for the TVL.

Interestingly, when DefiLlama updated its page by placing Tron at the third position having $5.16 billion of TVL, following Ethereum and Binance Smart Chain (BSC) with $56.32 billion and $6.86 billion respectively, Osmo tweeted incorporating a screenshot of the data:

$TRON has over $5 Billion in TVL.

Yet I've never seen or met anyone who's used the chain.

Someone educate me, what's going on here? pic.twitter.com/DXLLUGeEQh

— Emperor Osmo🧪 (@Flowslikeosmo) April 28, 2023

Significantly, the substantial level of Tron’s TVL has been unbelievable for Osmo, which is evident from his words, “someone educate me, what’s going on here?”. He further clarified that his ambiguities arose from the fact that he hasn’t “seen or met anyone who’s used the chain”.

However, reports stated that over the previous months, Tron has been exhibiting exemplary performances with its TVL value reaching the second highest, exceeding the leading platforms like BSC, Polygon, and Solana.

Responding to the crypto analyst, proponents of Tron came forward asserting that the platform holds a major portion of stablecoin transactions; most of the Asian market makers use it to move USDT. At the same time, there were tweeters who agreed with the analyst, positing that the entire chain is a scam.