Tron’s native token TRX is now accessible on Ethereum, the world’s largest proof-of-stake network. Tron founder Justin Sun made the announcement on Friday, revealing that the cryptocurrency had expanded its reach to the leading altcoin network using the BitTorrent Bridge, a chain-agnostic asset transfer solution.
Following the news, the price of TRX rose slightly, trading around $0.076 on Friday morning. TRX is currently the second-largest chain in terms of total value locked (TVL), with data from DeFiLlama showing a total of $5.6 billion locked in 22 protocols.
The addition of TRX on Ethereum is expected to increase the asset’s liquidity and help boost Tron’s growth within the DeFi ecosystem. However, Ethereum’s TVL is still much higher at over $27 billion. Nevertheless, Tron is way ahead of competitors including BNB Smart Chain (606), Polygon (425) and Arbitrum (346).
The price of ETH was perched near $1,900, up just over 1%, while TRX was up 2.2% in the past 24 hours. BitTorrent Bridge is the faster and easier way to move assets between EVM-compatible chains and Tron, providing users with a chain-agnostic solution.