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As Tron celebrates its latest milestone, here’s what you need to know

2min Read

Tron blockchain took the crown in terms of user base, with 23% more daily active users than second-best Bitcoin.

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  • Tron widened the gulf with the long-dominant BNB Chain.
  • Tron’s stablecoin market cap recorded a 30% YTD growth rate.

Tron [TRX] stamped its authority in the crypto space as it established a significant lead over other major blockchains in the ecosystem. Data from a blockchain analytics platform showed that Tron took the crown in terms of user base.


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Tron celebrates increased on-chain activity

Tron was found to have 1.23 million daily active users, nearly 23% more than the second-best Bitcoin [BTC]. The Justin Sun-founded chain also widened the gulf with BNB Chain, which for long dominated the list.

Apart from the phenomenal increase in its user base, other on-chain indications were also positive. According to Artemis data, the proof-of-stake (PoS) network maintained its position as the second-largest chain in terms of transaction count, trailing only Solana [SOL]. In the last 24 hours, Tron recorded about 4.44 million transactions.

Source: Artemis

Tron’s stablecoin push

The uptick in network traffic was powered by stablecoin transfers as Tron registered a significant jump in its stablecoin circulating supply year-to-date (YTD), according to DeFiLlama.

At the time of publication, Tron’s stablecoin market cap was $43.87 billion, 30% more than what it was at the beginning of 2023. A closer look revealed that Tron grabbed a big chunk of Ethereum’s [ETH] market to increase its pie.

Source: DeFiLlama

The aggressive push aligned with founder Justin Sun’s vision of increasing the chain’s stablecoin supply to $60 billion by the end of 2023. Despite the extended bear market, one could say that Tron covered decent ground in pursuit of its goals.


How much are 1,10,100 TRXs worth today


TRX continues to go up in smoke

A noticeable development in the ecosystem was the continued burning of tokens. About 11.2 million TRX tokens were moved out of circulation on 10 September. Adjusted against newly minted tokens, there was a net decrease in the circulating supply of TRX by 6.13 million.

TRX, like other crypto assets, was burned in order to achieve long-term market value growth. At the time of writing, the coin exchanged hands at $0.07852, marking weekly gains of 1.9%, per CoinMarketCap.

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Aniket Verma works as a journalist at AMBCrypto. Contrary to most who are primarily interested in merely tracking price movements of cryptos, his focus is on examining the niche intersection between cryptocurrencies and traditional finance. A so-so Bitcoin maximalist, Aniket has a strong disdain for memecoins and the unfounded frenzy they seem to generate every market season. Coming from a strong engineering background, Aniket previously worked as a Content Manager for TV9 Network. Before his stint over there, he was an Associate Multimedia News Producer at Reuters.
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