close
close

TRON Blockchain Sees Surge as Daily Transactions Reach 6.75 Million as Price Rises 14%

TRON Blockchain Sees Surge as Daily Transactions Reach 6.75 Million as Price Rises 14%

TRON stood out as one of the few cryptocurrencies that showed massive growth in June and held steady during the early July sell-off. However, it has risen by over 14% from a low of $0.11 in April to a peak of $0.134.

Meanwhile, a recent analysis by Market Analyst CryptoBusy has seen TRON transaction activity reach a daily average of around 6.75 million transactions. This growing adoption of the TRON network indicates optimistic sentiments in the crypto space.

TRON’s growing transaction volumes

According to a recent analysis by CryptoBusy, TRON has recorded a substantial increase in daily transactions, marking a pivotal moment for the blockchain platform. With an average of 6.75 million daily transactions, TRON has shown substantial growth, highlighting its increasing popularity and usability among users.

Furthermore, TRON stands out in the blockchain world with over 2.2 million active addresses, the highest among its peers. In comparison, Ethereum lags behind with 401,000 active addresses, while Solana, BNB Chain, and Arbitrum together have 2.30 million active addresses.

Besides its active user base, TRON’s strength is its Total Value Locked (TVL) within the ecosystem. Despite hosting only 34 decentralized applications (dApps), TRON has a remarkable TVL of over $7.47 billion. This places TRON as the second largest player in DeFi, closely followed by Ethereum.

Tron founder optimistic about vision

Tron founder Justin Sun believes that the TRX token and its ecosystem will flourish this year despite being undervalued. Tron has become a crucial blockchain network in the industry.

A good example is Tron’s role in processing over $40 billion in stablecoin transactions daily. On some days, Tron processes more stablecoins than Visa and Mastercard combined.

However, data from DeFi Llama shows that Tron holds over $58 billion worth of stablecoins, mostly Tether. This accounts for over 60% of Tether’s total market cap of over $115 billion, placing Tron second only to Ethereum, which holds over $78 billion worth of stablecoins.

Tron Price Analysis

Tron price has been on a strong upward trend recently, breaching $0.13, a key level for July. The price has also remained above the 50-day and 200-day moving averages, indicating that buyers are in control of the market.

With these positive signs, Tron’s price is likely to continue rising, targeting the year-to-date high of $0.18, which is about 8% higher than current levels. Breaking this point could lead to more gains soon, reflecting the growing optimism among investors and traders.