Tron’s [TRX] possible price recovery and how its closing in on BSC in terms of TVL

ambcrypto.com:

There is no gainsaying in denying the fact that this has not been a really good year for Decentralised Finance protocols (DeFi). Rug pulls, scams, hacks, exploits and failures of some of these protocols have made investors and regulators alike increasingly sceptical about DeFi as the future of finance. So far this year, over $1.6 billion in cryptocurrency has been lost to DeFi exploits. This has surpassed the total amount lost in 2020 and 2021 altogether.

However, in the face of these tragedies, the TRON Blockchain appeared to have had a good month. According todata from DefiLlama, with a Total Value Locked (TVL) of $5.8 billion, the Tron chain currently ranks as the third largest blockchain within the DeFi ecosystem closely trailing BNB.

Data from DeFi Llama also revealed that while the month of May has so far been plagued with declines for most chains within the ecosystem, TRON has  seen a 46.33% growth in the last one month. Similarly, in the last 7 days, a 14.63% growth has been recorded.

In light of these strides within the DeFi space, how has the chain’s native token, TRX performed since the beginning of the month?

Riding heavily on the cryptocurrency market price retracement, May appears to have been a good month for the TRX token on  a price front. Standing at $0.0835, the TRX token has rallied up by 32% in the last 29 days. Between 5 May and 8 May, the token marked a high in the $0.089 region. In the last 24 hours, the price of the token saw a 3% spike. 

Source:CoinMarketCap

At $6.38 billion at the beginning of the month, the market capitalization for the TRX token also recorded some growth. Currently standing at $7.83 billion at press time, the token so far pulled a 22% increment in the last 29 days. 

In addition to