JustLend DAO recently received significant inflows from TRON whales, with over 3 billion TRX being transferred in a series of transactions. These inflows, valued at more than $465.2 million, have boosted the liquidity of the largest DeFi protocol on the TRON network. The TRX tokens deposited can be used as lending collateral, allowing whales to access stablecoins for further investments.
Four transactions from unknown wallets were recorded, two of which exceeded 1 billion TRX each. These transactions occurred within minutes of each other, suggesting they may be linked to the same entity. The wallets primarily hold TRON-based tokens, with some also containing minor assets like BTT, SUNDOG, and NFTs.
These deposits come at a time of increased activity on the TRON network. Recently, TRON’s founder, Justin Sun, has been active in withdrawing and re-depositing TRX into JustLend DAO, though the latest whale inflows appear unrelated to any governance proposals or attacks on the DAO. Instead, they may reflect the ongoing recovery of the TRON ecosystem, aligning with a rise in TRX prices.
JustLend is a key player in TRON’s DeFi landscape, holding $5.4 billion in value across various pools and reporting $6.98 billion in reserves. With these recent inflows, the DAO now holds 14.31 billion TRX as collateral, offering up to 12.74% passive income when locked as sTRX. Despite the whale inflows, the DAO’s known addresses currently hold just 2.6 billion TRX.
TRX’s price has shown resilience, recently rising to $0.1544 after a steady 12-month increase. Unlike other tokens that struggled during the bear market, TRX has recovered above its 2021 peak and is expected to continue its upward trend, with short-term predictions targeting $0.20. TRX benefits from a deflationary mechanism, with a negative inflation rate of 2.64%, and 43 billion TRX locked or staked.
As TRON continues to expand, it will also host Wrapped Bitcoin (WBTC) starting October 8, potentially increasing DeFi liquidity on the chain. Currently, TRON boasts $7.73 billion in total value locked, driven by expanding DeFi and meme trading activity.