Tron Network Witnesses Surge In Activity And Market Dominance

The Tron Network has recently experienced a remarkable surge in activity, as highlighted by data from Intotheblock. Year-To-Date Daily Active Addresses on the network have seen a significant spike, indicating heightened user engagement.

On May 6th alone, there were 3 million active addresses involved in transactions, with a staggering 7 million recorded transactions.

Coin98analytics data further underscores Tron’s dominance, particularly in the $USDT Market Cap, where it secured the top spot by the end of April. Tron exhibited exceptional growth momentum, with a notable month-over-month increase of over $2.96 billion in $USDT Market Cap.

Trondao’s Monthly Report for April 2024 revealed impressive statistics for Tron’s performance. Fees and revenue soared to over $125.6 million, with over 170 million transactions conducted and nearly 5.9 million new unique addresses created. Moreover, the total stablecoin market cap surged by $2.8 billion in April, driven primarily by USDT.

Tron TRX Holder’s Number Hits Massive Milestone Of Over 96.5 Million 

The number of $TRX holders also witnessed a significant surge, totaling over 96.5 million holders. Notably, burned $TRX surpassed generated, resulting in a reduction of supply by 191 million tokens and maintaining a streak of 604 consecutive days of deflation.

In comparison to other top blockchains, Tron leads in the daily active users metric with over 2.8 million active users, outpacing its counterparts. However, Tron’s Total Value Locked (TVL) slightly decreased to over $8.3 billion by the end of April.

Analyzing TVL by category, lending dominates with over 73% of Tron’s TVL, spearheaded by JustLend. Other categories include CDP with JustStables and DEX with SUNSwap V1.

Overall, Tron’s recent surge in activity and market dominance underscore its growing significance within the blockchain ecosystem.

Disclosure: This is not trading or investment advice. Always do your research before buying any Metaverse crypto coins.