- USDT on TRC-20 total transfers hit 22 billion, outstripping ETH’s ERC-20 USDT at 2.6 billion.
- TRON ranked top among L1 blockchains by fee generated over the last six months
An examination of the comparison between TRC-20 USDT and ERC-20 USDT has highlighted that since 2021, TRON has been leading in transaction volume. The number of TRC-20 USDT transactions skyrocketed to a significant 22 billion, significantly outperforming ERC-20’s 2.6 billion.
The pattern revealed that the spikes in TRC-20 were significantly higher than those observed in its equivalent on Ethereum.
A substantial increase in TRC-20 activity, particularly during mid-2024, underscores the edge that TRON holds due to its lower transaction fees and quicker processing speeds, drawing in an increasing number of users and cryptocurrency exchanges for stablecoin transactions.
During September, there was a significant surge in TRC-20 transactions, almost doubling the number of ERC-20 transactions. This underscores its efficiency and expanding user base, suggesting that it is becoming increasingly popular.
This strong showing by TRON reinforces its prominent position in the stablecoin market, emphasizing a consistent choice among digital asset managers.
TRON fee revenue and TVL
In addition, TRON’s transaction fees for the past six months totaled approximately $1.36 billion, placing it among the leading Layer 1 blockchains and surpassing Ethereum in this category once more.
The number of USDT transactions on TRON has persistently increased significantly, and the transaction volume for TRC-20 USDT is substantially higher than that of ERC-20. This is remarkable given the relatively high average fees of approximately $1.2, as Token Terminal pointed out on X.
This pattern suggests that TRON is growing more influential in the realm of stablecoin transactions, due to its speedy transaction processing and robust security features.
The significant increase in transactions coincides with a substantial rise in the number of daily active accounts on TRON. Currently, this number has exceeded 2.62 million, with around 174,000 new accounts joining each day.
As a crypto investor, I’ve witnessed the remarkable growth of TRON, with its Total Value Locked (TVL) soaring beyond $23.4 billion. This surge underscores not only TRON’s growing influence but also the increasing trust users have in it.
As the hustle and bustle on TRON continues to increase and it demonstrates strong abilities in processing transactions swiftly, there seems to be a growing possibility that TRON could experience an upward trend. This suggests that TRON is further cementing its importance within the blockchain community.
It’s quite possible that this will lead to a prolonged increase in its market value, considering the strong adoption and faith shown by the cryptocurrency users.
AI integration and price prediction
Meanwhile, the advancements in AI on the TRON platform might spark increased investment and speculative trades, possibly leading to a rise in prices over the short term. This news was shared by Justin Sun on day X.
“Some groundbreaking AI will be developed on Tron and steemit. Stay tuned.”
Examining TRX‘s price fluctuations over the course of a week revealed a surge up to approximately $0.30, which was followed by a pullback settling near the area of roughly $0.24. This region could act as both a foundation for possible price stabilization and a turning point influencing future price trends.
Currently, as I’m typing this, the Moving Average Convergence Divergence (MACD) is positive, which implies that the upward momentum might persist. However, the Relative Strength Index (RSI) is close to 70, indicating that Tron (TRX) may be approaching overbought conditions. This suggests a potential pause or even a decrease in price movement as depicted on the charts.
Moving on, the price might return to the previous high of $0.30, but if the $0.24 level provides no support, it could drop down to other, lower support zones instead.
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2025-01-10 15:03