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Tron’s June activity leaves Ethereum, Solana trailing

3min Read

Outperforming Ethereum is something common with Tron. But last month’s performance showed that the blockchain’s bullish H1 was not a fluke.

Tron’s June activity leaves Ethereum, Solana trailing

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  • Tron’s active addresses surpassed that of Ethereum, Solana, and other blockchains.
  • Solana and the Justin Sun-led project had a more comparable performance than Ethereum.

According to Nansen, Tron [TRX] outpaced several blockchains, including Solana [SOL] and Ethereum [ETH], in terms of active addresses in June. The blockchain research firm, in its 12 July tweet, noted that Tron recorded a 42% increase. 


Read Tron’s [TRX] Price Prediction 2023-2024


Active addresses on Ethereum increased to 5.8 million while Solana decreased by a whopping 45%. All the while, other chains, including BNB Chain and the Polygon [MATIC] network, fell slightly.

Typically, active addresses serve as a good indicator of daily users over a particular blockchain. Sometimes, an increase in the metric could be a bullish signal, as Tron displayed a relatively good performance in the month.

But did Tron outclass these other blockchains in every aspect?

Solana matches Tron’s developments as ETH takes…

Well, in terms of development activity, Tron began rising on 29 June. And as of 1 July, the development activity was as high as 5.1. The development activity shows the level of dedicated code commits of public GitHub repositories attached to a blockchain. 

Tron's development activity, alongside Ethereum and Solana

Source: Santiment

So, when it increases, it implies that there is a substantial commitment to polishing the network involved. During the first week of June, Solana’s development activity soared above Tron’s.

However, in the last week of the month, the metric attached to both blockchains had a similar trend.

On Ethereum’s part, development activity soared and dumped at different intervals. However, the metric did not match up to the highest level that Solana and Tron reached at any point all through the previous month.

Concerning social dominance, Tron could not reach the peak it hit in May. And according to on-chain analytics platform Santiment, social dominance had fallen to 0.244% at press time.

Solana had a similar trend within the same period. But like Tron, social dominance fell at the time of writing. Ethereum dominated Solana and Tron in this aspect, taking .60% of the total share.

The above analysis revealed that Ethereum got more hype than both Tron and Solana. Also, this metric showed that discussion related to the second-largest blockchain was much more when compared with the other two.

Ethereum, Solana, and Tron social dominance

Source: Santiment

No victor, no vanquished here

Another area where Tron excelled is with NFTs. Although the total trade volume had subsided at press time, the blockchain volume hit as high as 18.21 million on 28 June. 


Realistic or not, here’s SOL’s market cap in TRX terms


The hike suggests that collections created via the Tron network attracted a good level of traders’ interest. Similarly, Solana also hit highs in NFT trades count on 14 and 27 June.

For Ethereum, the NFT volume wasn’t as impressive as it was in June. And at the time of writing, the number of unique addresses which bought NFTs worth $100,000 or more decreased.

Tron, Etheruem and Solana NFTs volume

Source: Santiment

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Victor Olanrewaju is a full-time journalist at AMBCrypto. Settled in Lagos, his fascination with blockchain technology and the cryptocurrency market arose out of his love of freedom and everything free. As a Nigerian, Victor understands the impact unfounded financial restrictions have on a population. He sees Bitcoin and cryptos as a way to circumvent these obstacles, as a tool for value creation despite all the setbacks. A graduate in Physics, Victor previously worked as a Senior Marketer at Melange Technologies. Before that, he dealt with crypto-marketers on a regular basis in his capacity as Copywriter at Ventrix Media. At AMBCrypto, Victor’s focus is on assessing the real effectiveness of both on-chain and off-chain developments on a project and its community sentiment.
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