- Tron had a daily active address volume of over 2 million.
- For Solana, the number remained under 1 million.
As a seasoned crypto investor with experience in analyzing blockchain networks and their underlying metrics, I find the recent data on Tron (TRX) and Solana (SOL) intriguing. The fact that Tron had a daily active address volume of over 2 million, while Solana remained under 1 million, is noteworthy.
The TRON (TRX) blockchain network has recently seen more daily activity than other platforms, such as Solana (SOL), with an increased number of unique addresses in use.
An examination of the latest trends in TRX and SOL based on their native tokens reveals that TRX has been showing more positive signs compared to SOL recently.
Tron leads Solana in active addresses
Based on the latest findings from Coin98 Analytics, I observe that Tron Dao is currently leading the pack in terms of daily active users among all platforms for this month.
Over 2.4 million people used the chart daily, representing a notable 50% rise in comparison to the preceding month’s figures.
In contrast, Solana had fewer than one million users but more than 854,000 daily active addresses were detected in analysis, despite considerable NFT transaction activity on the network.
Despite Tron having a bigger Total Value Locked (TVL) than Solana, the latter seems to be showing more promising trends in its TVL growth.
Solana sees more TVL recovery than Tron
As a researcher analyzing data from DefiLlama, I’ve found that Tron and Solana have Total Value Locked (TVL) amounts of $8.3 billion and $4.3 billion respectively. The TVL for Tron is almost twice that of Solana.
After taking a closer look at the TVL (Total Value Locked) data for both SOL and TRX, it is clear that SOL has exhibited a more favorable development in recent times.
Around April, the graph showed that both TRX and SOL underwent significant declines. Yet, Solana’s total value locked (TVL) seemed to bounce back faster, displaying noticeable upward trends.
In contrast, TRX exhibited more pronounced downtrends, which persisted at the time of this writing.
TRX and SOL see contrasting price trends
Over the past six days, the price behavior of Solana (SOL) and Tron (TRX) has shown notable differences.
Since May 7th, TRX‘s price has consistently increased, experiencing just a momentary dip on May 11th. The cryptocurrency’s value climbed from approximately $0.120 to $0.126 during this time frame.
At the time of writing, its price had increased by around 0.16%.
I analyzed the price trend of SOL, and I noticed that it encountered back-to-back decreases on the 7th and 8th of May. The declines led to a significant loss in value, with SOL dropping approximately 7% to around $142.
On the ninth of May, there was a notable rise of more than 7% in its price, causing it to reach approximately $152 once again.
Afterward, the value of SOL decreased, and it was currently priced at approximately $144 – a 0.3% drop from previous levels.
Read Solana’s [SOL] Price Prediction 2024-25
Based on these graphs, a persistent upward trend in TRX‘s price could lead to a rise in the count of daily active addresses.
If the cost of Solana (SOL) keeps decreasing, it may lead to a reduction in the number of daily active addresses on the platform.
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2024-05-13 03:03