Take a fresh look at your lifestyle.

daily transactions increase over 500%, TVL on DeFi crosses $ 8 billion

0


The TRON blockchain has shown good signs of growth while achieving major milestones in recent weeks. Daily transactions on the TRON blockchain have reached a new all-time high with an increase of 500% over the last year.

According to TRON's native data tracking platform Tronscan.org, the blockchain now handles more than 9 million transactions in a single day. As reported by the CryptoRank platform:

“TronFoundation TRX's total daily transaction count crossed the 9M mark and set a new all-time high of 9.27 million. This rate grew 522% during the past year ”.

This stellar rise speaks volumes about TRON's growing popularity in the crypto space. Taking on the next challenge, TRON co-founder Justin Sun said that the blockchain will soon start processing 10 million transactions every day.

In addition to this massive increase in daily transactions, the number of unique addresses has also skyrocketed significantly. According to Tronscan data, the blockchain network now houses more than 45 million addresses. One-way growth has occurred at a “parabolic rate”, as seen in the table below.

Courtesy: Tronscan

Strong growth for TRON's DeFi ecosystem

TRON's DeFi ecosystem has seen strong growth with Total Value Locked (TVL) crossing $ 8 billion last week on July 4. However, it has dropped a bit since then and has now reached $ 7.4 billion according to Tronscan data.

Tracking the TVL DeFi in the Tron ecosystem went live earlier this month. The announcement of the same was made by the founder of Tron, Justin Sun.

Stablecoin support on Tron Network

The TRON blockchain has been offering support for multiple stablecoins and continues to grow. Tether's USDT still dominates its peers with a circulating supply of $ 32 billion. Commenting on it, TRON founder Justin Sun said:

“TRON is known to have many successful #stablecoin issuance cases, with TRC20-USDT being the best known case; the steady increase in circulating supply of # TRC20 – #USDT and unique addresses are adequate proof of demand for stablecoins. "

On the other hand, Circle's USDC stablecoin has seen significant growth. In less than a month, USDC's circulating supply on TRON has surpassed 108 million. Hence, TRON is emerging as a popular option for traders due to its low transaction fee.



Leave A Reply

Your email address will not be published.