Key Points
- TRC-20 USDT transactions on TRON have hit 22 billion, surpassing ERC-20 USDT transactions on Ethereum at 2.6 billion.
- TRON has generated $1.36 billion in fees over the past six months, ranking it among the top Layer 1 blockchains.
TRON’s TRC-20 USDT transactions have skyrocketed since 2021, reaching 22 billion and outperforming Ethereum’s ERC-20 USDT transactions at 2.6 billion.
TRON’s Dominance in Transaction Volume
Transactions on TRC-20 consistently peaked higher than those on Ethereum. This trend was particularly noticeable in mid-2024, with TRON’s low fees and faster processing times attracting more users and exchanges for stablecoin transactions.
In September, TRC-20 transactions nearly doubled those on ERC-20, highlighting its efficiency and growing user base.
TRON’s strong performance has solidified its leading position in the stablecoin sector, reflecting a continued preference among digital asset operators.
TRON’s Fee Revenue and Total Value Locked
Over the past six months, TRON has generated $1.36 billion in fees, ranking it among the top Layer 1 blockchains, ahead of Ethereum.
Despite high average fees of $1.2, the volume of USDT transactions on TRON has continued to grow robustly, with TRC-20 USDT transactions far exceeding those of ERC-20.
This increase in transactions has been accompanied by a significant rise in daily active accounts on TRON, now surpassing 2.62 million, with an average of 174,000 new accounts daily.
This has propelled TRON’s total value locked (TVL) to over $23.4 billion, demonstrating its growing influence and user trust.
The increasing activity on TRON, along with its efficient transaction handling capabilities, suggests a potential uptrend for TRON, reinforcing its position in the blockchain ecosystem.
In other news, AI development on TRON could further stimulate investor interest and speculative trading, potentially driving the price higher in the medium term. This was announced by Justin Sun.
TRX’s price movement within the weekly timeframe showed a spike to $0.30, followed by a retraction to a fair value gap around $0.24. This level serves as both a support and a pivot point for potential future price directions.
At the time of writing, the MACD was positive, suggesting momentum could continue upwards, while the RSI near 70 indicated that TRX was approaching overbought territory. This hinted at a possible consolidation or a pullback on the charts.
Moving forward, the price could retest the $0.30 peak or, if support at $0.24 fails, fall back to lower support levels.
