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TRX outpaces ETH and BNB in these metrics, but there’s more than meets the eye

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Tron’s recent surge outpaces Ethereum in daily active addresses but faces hurdles with lower fees and a declining Total Value Locked (TVL).
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TRX outpaces ETH and BNB in these metrics, but there's more than meets the eye
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  • Tron shone with record-breaking daily active addresses, surpassing Ethereum and BNB Chain.
  • Despite transaction dominance, Tron faced lower fees and a declining Total Value Locked (TVL).

As per a 12 May tweet by Osmo, Tron [TRX] achieved a milestone by surpassing prominent networks such as Ethereum [ETH] and BNB Chain in daily active addresses. According to data sourced from Token Terminal, it witnessed an impressive figure of over 1.9 million daily active addresses, outshining BNB’s count of 1.4 million. 

How much are 1,10,100 TRXs worth today?

Furthermore, data from Artemis provided a direct comparison between Ethereum and Tron. It revealed a remarkable count of 1.89 million daily active addresses, overshadowing Ethereum’s 329,000.

Tron transaction up but fees down

A closer examination of Tron’s daily transaction count revealed its superiority over the Ethereum network. On May 10, Tron recorded a staggering 8.83 million transactions, surpassing Ethereum’s count of approximately 836,000 transactions.

According to Artemis’ data, at the time of writing, its transaction count remained robust at 8.64 million. However, despite Tron’s dominance in terms of active addresses and daily transactions, it fell short of generating higher fees. 

Data from Token Terminal showed that over a 180-day period, Ethereum outperformed Tron in terms of revenue. Tron accumulated 348 million in fees, whereas Ethereum surged ahead with a substantial $1.1 billion. This discrepancy highlighted the varying financial dynamics and fee structures between the two networks.

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

TVL and price have mixed reactions

Data from DefiLlama indicates that the Total Value Locked (TVL) on Tron has experienced a downward trend in recent days. As of the press time update, the TVL stood at approximately $5.39 billion. Although there has been a slight increase in the TVL according to the latest data, the overall chart still reflected a continued downward trajectory.

Analyzing the daily price trend of TRX revealed a positive movement on 12 May. By the end of the trading period on 12 May, TRX had registered a gain of over 2% in value. However, it was trading at a loss at the time of writing, albeit at a minimal percentage.

Tron daily price move

Source: TradingView

 

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Saman Waris works as a News Editor at AMBCrypto. She has always been fascinated by how the tides of finance and technology shape communities across demographics. Cryptocurrencies are of particular interest to Saman, with much of her writing centered around understanding how ideas like Momentum and Greater Fool theories apply to altcoins, specifically, memecoins. A graduate in history, Saman worked the sports beat before diving into crypto. Prior to joining AMBCrypto 2 years ago, Saman was a News Editor at Sportskeeda. This was preceded by her stint as Editor-in-Chief at EssentiallySports.
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