Tron founder Justin Sun has announced that TRX is now accessible on Ethereum.
According to Sun, Tron will leverage the BitTorrent Bridge, which provides a chain-agnostic asset transfer solution, to bring TRX to Ethereum.
The price of TRX rose slightly following the news, trading around $0.076 on Friday morning.
Tron founder Justin Sun said on Friday that the cryptocurrency had expanded its reach by going live on Ethereum.
Tron’s live on Ethereum via BitTorrent Bridge
Tron’s expansion onto the leading altcoin network leverages the BitTorrent Bridge, Sun tweeted. In his announcement, Sun provided the contract address that has TRX fully accessible across the Ethereum ecosystem.
BitTorrent Bridge is a chain-agnostic, decentralized asset transfer solution offering a faster and easier way to move assets between EVM-compatible chains and Tron. TRX going live on Ethereum via the BitTorrent Bridge will boost the asset’s liquidity and help increase Tron’s overall growth within the DeFi ecosystem.
Currently, Tron ranks as the second-largest chain in terms of total value locked (TVL), with data from DeFiLlama showing a total of $5.6 billion worth of assets locked in 22 protocols. However, this pales in comparison to TVL on Ethereum – which is currently at over $27 billion.
But with 22 protocols leveraging the Tron network, data shows its way off competitors including BNB Smart Chain (606), Polygon (425) and Arbitrum (346).
TRX traded around $0.076 on Friday morning, with the price up 2.2% in the past 24 hours. Meanwhile, Ethereum’s ETH was perched near $1,900, up just over 1%.
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