Cointelegraph and CryptoQuant have released comprehensive research reports highlighting TRON's (CRYPTO:TRX) robust network activity and stable demand.
TRON's high transaction speeds, scalability, and cost-effectiveness make it a top choice for everyday transactions, boasting over 2 million daily active wallets and dominance in stablecoin transfers.
Cointelegraph's report reveals TRON's network activity is driven by stable demand rather than speculative trends, creating reliable protocol revenues.
TRON has surpassed the BNB Chain as the Layer-1 blockchain with the second-highest Total Value Locked (TVL) and has become the second-largest blockchain for stablecoin transfer activity.
The first quarter of 2024 saw a 15% increase in market cap and record revenues of $128.1 million.
CryptoQuant's analysis emphasises TRON's fast transaction speeds and TRC-20 USDT (CRYPTO:USDT) stablecoin activity.
TRON processes up to 2,000 transactions per second (TPS) compared to Ethereum’s (CRYPTO:ETH) 119 TPS.
This efficiency is achieved through its Delegated Proof of Stake (DPoS) mechanism and integration with BitTorrent for distributed storage.
Most USDT holders on TRON are retail or small holders, with 52.6 million responsible for 28% of USDT transactions as of July 2024.
This highlights TRON's practicality and cost-effectiveness for fast, frequent, low-value transactions like remittances, micropayments, and peer-to-peer transfers.
TRON DAO, founded by H.E. Justin Sun in 2017, has seen significant growth with over 247 million total user accounts, more than 8 billion total transactions, and over $22 billion in total value locked as of August 2024.
TRON hosts the largest circulating supply of USDT, having overtaken Ethereum in April 2021.
It achieved full decentralisation in December 2021 and is now a community-governed DAO.
In October 2022, TRON was designated as the national blockchain for the Commonwealth of Dominica, with several TRON-based tokens granted statutory status as authorised digital currency and medium of exchange in the country.
These combined insights from Cointelegraph and CryptoQuant illustrate TRON’s leading role in the blockchain ecosystem, enhancing liquidity and promoting the practical use of digital assets.