As a seasoned analyst with years of experience navigating the volatile landscape of cryptocurrencies, I must admit that the growth trajectory of Tron (TRX) is nothing short of impressive. With its stablecoin supply now accounting for nearly 40% of the total market, and the second-largest share behind Ethereum, it’s evident that Tron is making significant strides in the industry.
Based on information from CryptoQuant, the current value of Tron’s stablecoin supply is approximately $61.1 billion, which represents about 37.9% of the overall stablecoin market, worth around $161.1 billion.
Tron is the second-largest blockchain in the stablecoin market, just behind Ethereum.
This year’s figure has seen a significant jump compared to the previously reported 46.6 billion dollars from last year. Notably, Ethereum continues to dominate the sector with an impressive 89.7 billion dollars, accounting for about 55.7% of the total market share.
The surge in Tron’s transfer volumes can be attributed to the high number of recent transfers. Over the last month, there has been a 5.1% rise in transfer activities on the Tron network. This year alone, the total volume has soared by 158%, amounting to an impressive $58.75 billion. In contrast, Ethereum’s transfer volumes have grown by 103%, and the BNB Chain has experienced a 46.5% increase.
Furthermore, it’s worth noting that Tron executed a massive 17.4 billion dollars worth of stable coin transactions on August 15, 2024, surpassing Solana’s 6.4 billion and BNB Chain’s 1.6 billion on the same day. In simpler terms, Tron handled more stable coin transfers than both Solana and BNB Chain did on the specified date.
By March 14, 2024, the combined value locked within the Tron DeFi system, as reported by DefiLiama, stood at an impressive $10.55 billion. Since August, this figure has experienced a significant boost of 12%. Additionally, the ecosystem’s on-chain income has also seen growth; for instance, in mid-August, daily revenue surged approximately 27% to reach around $1.5 million.
Furthermore, there was a staggering increase of 672% in the daily usage of decentralized apps (dApps) on the Tron platform, climbing up from approximately $4.61 million to an impressive $35.57 million.
TRON’s primary token, TRX, has soared over 80% in value during the past year. Currently, it is trading at approximately $0.25 – a 1.3% increase within the last day, however, this remains 55% below its peak price of $0.30 attained in January 2018.
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2024-12-23 21:57