Logo
Cardano Ecosystem

CryptosHeadlines

07/11/2024

·

49 views


TRON Daily Transactions Surge to 6.75M - Price Jumps 14%

Justin Sun is upbeat about TRON, noting its $40 billion daily stablecoin transactions and a TVL surpassing $7.47 billion, making it second in decentralized finance after Ethereum. TRON's price has risen 14% from $0.11 in April to $0.134, despite market fluctuations.

TRON Daily Transactions Surge to 6.75M - Price Jumps 14%

Justin Sun is upbeat about TRON, noting its $40 billion daily stablecoin transactions and a TVL surpassing $7.47 billion, making it second in decentralized finance after Ethereum. TRON’s price has risen 14% from $0.11 in April to $0.134, despite market fluctuations.

It has shown significant growth in June and stability during early July sell-offs. According to CryptoBusy, TRON’s daily transaction activity averages around 6.75 million, indicating growing adoption and positive sentiment.

TRON’s Transaction and Address Surge Highlights Popularity

According to a recent analysis by CryptoBusy, TRON has seen a significant increase in daily transactions, averaging 6.75 million. This rise marks a pivotal moment for the blockchain platform, showcasing its growing popularity and utility among users.

Source: X

TRON also stands out with over 2.2 million active addresses, the highest among blockchain platforms. In comparison, Ethereum has 401,000 active addresses, while Solana, BNB Chain, and Arbitrum collectively total 2.3 million active addresses.

In addition to its active user base, TRON’s strength lies in its Total Value Locked (TVL) within its ecosystem. Despite hosting only 34 decentralized applications (dApps), TRON’s TVL exceeds $7.47 billion, making it the second-largest player in decentralized finance (DeFi), just behind Ethereum.

Justin Sun Optimistic About TRON’s Future Despite Undervaluation

Justin Sun, the founder of TRON, is confident that the TRX token and its ecosystem will thrive this year, despite being undervalued. TRON has emerged as a critical player in the blockchain industry.

One notable example of TRON’s significance is its role in handling over $40 billion in stablecoin transactions daily. On some days, TRON processes more stablecoins than Visa and Mastercard combined.

Source: X

According to data from DeFi Llama, TRON holds over $58 billion in stablecoins, primarily Tether. This figure represents more than 60% of Tether’s total market value of over $115 billion, placing TRON second only to Ethereum, which holds over $78 billion in stablecoins.

TRON Price on Uptrend, Eyes Higher Targets

TRON’s price has been on a strong uptrend recently, surpassing $0.13, a key level for July. It has also remained above the 50-day and 200-day moving averages, signaling that buyers are in control of the market.

With these positive indicators, TRON’s price is likely to continue rising, aiming for the year-to-date high of $0.18, which is about 8% above its current level. Breaking above this point could lead to further gains, reflecting growing optimism among investors and traders.

Important: Please note that this article is only meant to provide information and should not be taken as legal, tax, investment, financial, or any other type of advice.

Join Cryptos Headlines Community

Follow Cryptos Headlines on Google News

  • SHBAZ

    A crypto enthusiast, Loves to write, Loves to explore and stay up-to-date about the latest developments in the crypto world. #Btc #Crypto #NFT

    View all posts

AD

SNEKbot by DexHunter on CARDANO

Cardano's Telegram Trading Bot live on Cardano mainnet!TRADE NOW!


Read Original Article on CryptosHeadlines

ORIGINAL SOURCE

https://cryptosheadlines.com/tron-daily-...

Disclaimer: Cardano Feed is a Decentralized News Aggregator that enables journalists, influencers, editors, publishers, websites and community members to share news about the Cardano Ecosystem. User must always do their own research and none of those articles are financial advices. The content is for informational purposes only and does not necessarily reflect our opinion.


Rare Evo: A Blockchain Event

More from CryptosHeadlines

See more
WLD Coin Team Postpones Token Unlock
CryptosHeadlines
WLD Coin Team Postpones Token Unlock

last Tuesday at 1:46 PM

·

23 views

Related News

See more

Argentina Digital Nation 2024
Rare Evo: A Blockchain Event
Argentina Digital Nation 2024

Featured News

See more



    DEFAULTENGLISH (EN)SPANISH (ES)RUSSIAN (RU)GERMAN (DE)ITALIAN (IT)POLISH (PL)HUNGARIAN (HU)JAPANESE (JA)THAI (TH)ARABIC (AR)VIETNAMESE (VI)PERSIAN (FA)GREEK (EL)INDONESIAN (ID)ROMANIAN (RO)KOREAN (KO)FRENCH (FR)CZECH (CS)PORTUGUESE (PT)TURKISH (TR)